The impact of an increase in the gasoline tax on SUV sales is
A) a macroeconomics topic because it deals with taxes.
B) a microeconomics topic because it deals with one industry.
C) not an economic issue, but rather a political issue.
D) insignificant.
B
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The primary reason for the recent reduction in the number of banks is
A) bank failures. B) re-regulation of banking. C) restrictions on interstate branching. D) bank consolidation.
Which of the following statements is consistent with the views of Joseph Schumpeter?
A) Research and development by competitive firms is responsible for most technological changes. B) An economy benefits from firms having market power because these firms are more likely to be able to commit funds for research and development. C) Enforcement of antitrust laws is necessary to promote competition among firms. D) A lack of competition discourages firms from developing new technologies.