Third-party beneficiaries are called:
a. polluters.
b. property owners.
c. free riders.
d. efficient market.
e. losers.
c
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The introduction of new technologies ________ the real interest rate and ________ the equilibrium quantity of national saving.
A. decreases; decreases B. increases; increases C. increases; decreases D. decreases; increases
A country cannot produce a mix of products with a higher value than where
A) the isovalue line is tangent to the production possibility frontier. B) the isovalue line intersects the production possibility frontier. C) the isovalue line is above the production possibility frontier. D) the isovalue line is below the production possibility frontier. E) the isovalue line is tangent with the indifference curve.
Which of the following does not contribute to GDP?
a. You lose $50 playing cards with friends. b. You pay a doctor $200 to treat an arm that you broke in an accident. c. You pay $300 for this month's rent on your apartment. d. Your economics textbook is revised, and you buy the new edition.
One shortcoming of the kinked-demand curve model of oligopoly is it does not explain:
A. why the firm is a least-cost producer. B. why the marginal revenue curve is kinked. C. how the going price gets determined in the first place. D. what the equilibrium level of profits is for the firm.