Which of the following is an example of a natural monopoly?
A) the Pittsburgh Penguins hockey team, a National Hockey League team
B) Ford Motors, the large automobile producing company
C) Florida Power and Light, an electric utility in Florida
D) Sony, the Japanese producer of the Playstation III
E) JCPenney, the large department store chain
C
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Development economics must have a scope wider than traditional economics because
a. values and attitudes play little role in the pace of development. b. people in developing societies do less utility-maximizing. c. transformation of social institutions is necessary for development. d. all of the above.
Why does multinational corporation investment not necessarily offer the advantage of domestic employment expansion?
What will be an ideal response?
Many developing countries make the government budget one of the primary tools of long-run industrial development, with the government owning and operating industries such as steel mills, airlines, and phone companies
Indicate whether the statement is true or false
There is an excess demand in a market for a product when
A. supply is less than demand. B. the current price is higher than the equilibrium price. C. quantity demanded is less than quantity supplied. D. quantity demanded is greater than quantity supplied.