One defense Microsoft can use to argue that it does not have monopoly power in the market for operating systems, is to show that
a. demand for operating systems is highly elastic.
b. many other commodities have higher income elasticities of demand than operating systems.
c. the cross elasticity of demand between Microsoft’s operating system and other operating systems is large and positive.
d. many of its competitors' products are complements for its service.
c. the cross elasticity of demand between Microsoft’s operating system and other operating systems is large and positive.
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Which of the following would not be counted in the calculation of GDP?
A. Buying a brand new car. B. Paying for a flight to Las Vegas. C. Government spending on social security. D. Paying for a maid service to come clean your house.
The simple accelerator theory suggests that investment will be rising when
A) output is rising. B) the growth of output is rising. C) output is high. D) the growth of output is high.
Statistical studies suggest that the cost of direct controls for any target level of pollution is
A. much higher than the cost of taxes on emissions. B. about the same as the cost of taxes on emissions. C. lower than the cost of taxes on emissions. D. impossible to compare to the cost of taxes on emissions.
The prosperity phase of the business cycle is _____ followed by the recession phase.
A. always B. usually C. sometimes D. never