Increasing concentration always means an industry has become effectively monopolized.
Answer the following statement true (T) or false (F)
False
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When a consumer wants to compare the price of one product with another, money is primarily functioning as a
A. medium of exchange. B. checkable deposit. C. store of value. D. unit of account.
Which of the following statements is correct?
A) The price level does not affect the level of real GDP demanded. B) The lower the price level, the more the aggregate demand curve shifts rightward. C) The lower the price level, the greater the quantity of real GDP demanded. D) The higher the price level, the more the aggregate demand curve shifts rightward. E) The lower the price level, the more the aggregate demand curve shifts leftward.
According to the classical model, if the government lowers its budget deficit, which of the following will occur?
a. The interest rate will rise, and consumption, investment and output will all decrease. b. The interest rate will fall, consumption and investment will increase, but output will not change. c. The interest rate will rise, and consumption, investment and output will all increase. d. The interest rate will fall, and consumption, investment and output will all increase. e. The interest rate will fall, consumption will not change, but investment and output will both increase.
The total allowable catch (TAC) system differs from the individual transferable quota (ITQ) system in that:
A. TAC limits the total harvest of fish while ITQ does not B. ITQ limits an individual fishery's harvest, but TAC does not C. TAC prevents an "individual arms race" among fisheries, whereas ITQ does not D. ITQ does not offer significant cost-saving benefits, but TAC does