Suppose that a sporting goods store had $800 of golf balls on its shelves at the beginning of 2016 and $1,300 at the end of 2016. The amount of inventory investment included in GDP would be

The income distribution of college graduates overlaps that of high school dropouts

Indicate whether the statement is true or false

Monopoly is a prime example of a market failure that leaves potential Pareto improvements unexploited. This is demonstrated by the fact that

a. monopolies produce public goods rather than private goods b. monopolies substitute excludability for rivalry c. monopolies substitute rivalry for excludability d. the price in a monopolized market is less than the marginal cost of production e. the price in a monopolized market exceeds the marginal cost of production