The sacrifices made by societies in order to engage in military spending represent:
A. the nominal costs of military spending.
B. the real costs of military spending.
C. the opportunity costs of military spending.
D. the excessive costs of military spending.
Answer: C
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In the last four decades, the share of income going to U.S. households in the top fifth of the population:
a. has declined. b. has increased. c. has remained the same. d. has decreased by 50 percent.
Which of the following items is NOT a component of the income approach to measuring U.S. GDP?
A) interest earned on savings deposits B) profits made by businesses C) income earned by businesses that export goods D) investment
Which of these variables remains exogenous throughout Chapter 3?
A) the interest rate B) investment C) price level D) all of the above
According to William Shepherd's examination of competitive trends in the U.S. economy, a tight oligopoly
a. is a single firm that controls the entire market and can block entry b. is an industry in which the top four firms supply more than 60 percent of the market, have stable market shares, and cooperate with each other c. is an industry in which the top four firms supply more than 60 percent of the market, have unstable market shares, and do not cooperate with each other d. is an industry in which a single firm has over half the market share and no close rival e. is an industry in which a single firm has over one-third of the entire market, the market share is stable, and the firm cooperates with other firms in the industry