The market's contribution to the general welfare has been its
a. stimulation of growth in productivity.
b. yield of an abundance of consumers' goods.
c. contribution to human longevity.
d. All of the above are correct.
d
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In the past, the Department of Transportation allowed airline mergers that gave the merged airlines market shares of 79 and 82 percent, respectively, in their hub cities. The concept the dot used to allow mergers where there was obvious concentration was most likely
A. the good trust principle. B. contestability. C. the efficient market principle. D. the monopolistic competition principle.
Which of the following factors of production is likely to be most productive?
a. A certified doctor working in a well-equipped hospital b. A medical student working as a volunteer in a rural health clinic c. A trained nurse without access to the latest medical technology d. A knowledgeable chemist without a degree in medical sciences e. A specialist doctor working in a hospital with poor infrastructure
Industrial countries are not usually involved in currency bailouts since they are not likely to be affected by the devaluation of another country's currency.
Answer the following statement true (T) or false (F)
A market is defined as contestable if entry to it
A. is easy, but exit from it is difficult. B. and exit from it are both easy. C. is difficult, but exit from it is easy. D. and exit from it are both difficult.