Economists ________ because even firms in highly concentrated industries can be pushed to produce efficiently under certain market circumstances.
A. no longer attack industry concentration at all
B. continually attack industry concentration
C. no longer attack industry concentration with the same fervor they once did
D. attack industry concentration with much more fervor than they once did
Answer: C
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When the government finances a shovel-ready project through taxes or borrowing, this will result in
A) lower taxes or interest rates, which will reduce private sector employment. B) lower taxes or interest rates, which will increase private sector employment. C) higher taxes or interest rates, which will reduce private sector employment. D) higher taxes or interest rates, which will increase private sector employment.
When a state government chooses to build more roads, the required resources are no longer available for spending on public education. This dilemma illustrates the concept of:
A. full employment. B. marginal analysis. C. full production. D. opportunity cost.
The delivery of financial services electronically is called
A) e-business. B) e-commerce. C) e-finance. D) e-possible.
If potential GDP for the first quarter of 2013 = $75.8 billion, and real GDP for the first quarter of 2013 = $80.3 billion, then the output gap was
A) -5.9%. B) -5.6%. C) 5.6%. D) 5.9%.