Economies of scale for firms in an industry can limit competition
Indicate whether the statement is true or false
T As we have seen before, if each firm must achieve a considerable size in order to achieve low average costs, there may not be room for many firms in that industry. Also, the effect that entry at competitive scale may have in lowering market price can discourage entry.
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Of the following balance of payments measures, which one is least able to measure whether a nation is paying its own way?
a. Current account. b. Balance on goods & services. c. Balance on goods, services, and net income d. Reserves account
Over the last 50 years, the poor have:
A. become richer at the same rate as the rich, and so inequality has stayed the same. B. become richer at a slower rate than the rich, and so inequality has grown. C. become poorer, while the rich have become richer, and so inequality has grown. D. become richer at a slower rate than the rich, and so inequality has decreased.