List the economic functions of governments
What will be an ideal response?
Governments exist to establish and maintain property rights, to provide nonmarket ways of allocating resources, and to create methods that redistribute income and wealth.
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Which of the following firms is not able to practice price discrimination?
A) commercial airlines B) the largest wheat farmer in Nebraska C) land-line telephone companies D) movie theaters
Financial intermediaries are specialists in the production of
A) market failure. B) information. C) traded assets. D) commercial paper.
What do you think would be the Cobb-Douglas single best prescription for poor countries to catch up with the rich?
A) to increase their stock of capital B) to increase their labor force C) to find more efficient ways to allocate and use capital and labor D) to ask help of the rich countries E) none of the above
When one automaker begins offering low cost financing or rebates, others tend to do the same. What two oligopoly models might offer an explanation of this behavior?
What will be an ideal response?