The discovery and utilization of vast, previously unknown oil and mineral deposits in a country will increase:
A. the unemployment rate.
B. average labor productivity.
C. the share of the population employed.
D. the quantity of human capital.
Answer: B
Economics
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Which of the following statements is true?
a. A vertical merger is a merger of firms that compete in the same market. b. The rule of reason doctrine declares that the existence of monopoly alone is illegal. c. Government regulation is economically justifiable for a natural monopoly. d. Deficient information on unsafe products causes underconsumption.
Economics
The result that perfectly competitive firms produce at the lowest per-unit cost is derived from the assumptions of
a. homogeneous products. b. few sellers. c. firms facing horizontal demand curves. d. free entry and exit.
Economics