Traditional economies tend to be
a. unstable and unpredictable
b. stable, predictable, and growing
c. unstable, unpredictable, and stagnant
d. unstable and unpredictable, but growing
e. stable and predictable, but stagnant
E
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In monopolistic competition if there is profit, there is:
a. a signal for new firms to enter. b. a motive for existing firms to increase prices. c. proof that advertising works. d. a motive for existing firms to decrease prices. e. product differentiation.
Store of value
When property rights are not well established,
a. private goods become public goods. b. markets fail to allocate resources efficiently. c. the distribution of private goods is unfair. d. government resources are used inefficiently.
Outline the purpose of antitrust laws. What do they accomplish?