Which of the following would likely be an example of a monopolistic industry?
a. fast-food restaurants
b. cell phone service
c. auto manufacturing
d. none of the above
d
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Refer to Table 9-10. Suppose an economy has only three goods and the typical family purchases the amounts given in the table above. If 2011 is the base year, then what is the CPI for 2016?
A) 14.3 B) 87.5 C) 114.3 D) 160
The level of saving in Japan has historically been high relative to the level of domestic investment. Based on this information, we would expect that
A) Japan's private saving is greater than its public saving. B) Japan's capital inflows are positive. C) Japan's net foreign investment has been relatively low. D) Japan's net exports have been relatively high.
How might financial deepening contribute to poverty reduction?
What will be an ideal response?
Economies organize according to the principle of specialization and exchange because doing so
a. enables the government to exercise greater control than would otherwise be possible b. forces people to work longer hours than they would do normally c. eliminates the "law of increasing opportunity costs" d. enables workers to move up to management in the least amount of time e. enables greater production and higher standards of living to be realized than would otherwise be possible