For a monopoly to be ________, the firm must realize economies of scale at a scale that is close to total demand in the market.
A. a natural monopoly
B. unregulated
C. granted patents
D. profitable
Answer: A
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Which of the following is likely to happen if consumption in an economy falls?
A) Asset prices rise. B) Mortgage defaults fall. C) Labor supply falls. D) Layoffs rise.
Which of the following will NOT work to increase the rate of economic growth?
A) increase saving B) limit competition from international trade C) improve the quality of education D) All of the above will work to increase the rate of economic growth.
Which of the following statements about the Third World is true?
a. Except for Latin America, most Third World citizens live in urban areas. b. The culture, politics, and geography of the Third World countries are very similar. c. Third World economies are largely dependent on manufacturing industries. d. The Third World is made up of non-communist developing countries. e. About 80 percent of the population of the Third World countries live in China and India.
The largest trading partner of Mexico is
a. Canada. b. the United States. c. Brazil. d. Cuba.