Monopolists are criticized because they are inefficient. What is meant by this statement?
a. Monopolists charge too high a price.
b. Monopolists don't innovate enough to control pollution.
c. Monopolists produce a large quantity of waste.
d. Monopolists usually don't produce at the minimum of the ATC.
e. Monopolists could use their resources better elsewhere.
d
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Which of the following government agencies estimates and compiles the U.S. GDP accounts?
A. The American Economic Association B. The Federal Reserve System C. The Bureau of Economic Analysis D. The Internal Revenue Service
The payroll tax represents
A. the largest source of revenue in the federal budget. B. the second largest source of revenue in the federal budget. C. the third largest source of revenue in the federal budget. D. the largest source of revenue in state government budgets.