The general view of economists is that a pure monopoly will not be technologically progressive.
Answer the following statement true (T) or false (F)
True
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Use the figure below to answer the following question.
The diagram concerns supply adjustments to an increase in demand (D1 to D2) in the immediate period, the short run, and the long run. Supply curves S1, S2, and S3 apply to the
A. short run, long run, and immediate period respectively. B. long run, short run, and immediate period respectively. C. immediate period, long run, and short run respectively. D. immediate period, short run, and long run respectively.
An advantage of automatic stabilizers is that this type of fiscal policy is not subject to:
a. imprecise knowledge of full-employment real GDP. b. special interest groups. c. lag time problems. d. All of these are true.
Each of the following was considered a proponent of supply-side economics EXCEPT
A. Arthur Laffer. B. Ronald Reagan. C. Congressman Jack Kemp. D. Milton Friedman.
Henry Ford
A. was the second automobile manufacturer to use a moving assembly line. B. was the first automobile manufacturer to manufacture a standardized engine with interchangeable parts. C. sold millions of cars at a small unit of profit that allowed his company to keep auto prices low and wages high. D. all of the statements are true.