Better technology means that more output in the U.S. economy can be produced:
A. With a greater amount of energy input
B. With the same amount of energy input
C. But it will lead to a fall in the standard of living
D. But it will lead to a rise in population growth
B. With the same amount of energy input
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Which of the following statements correctly indicates a property of good economic questions?
A) A good economic question addresses topics that are important to economic agents and/or to the society. B) A good economic question must always include arithmetic calculations and graphical solutions. C) A good economic question should always be positive and not normative. D) A good economic question should always be easy to answer.
In which set of market models are there the most significant barriers to entry?
A. Monopolistic competition and pure competition B. Monopolistic competition and pure monopoly C. Oligopoly and monopolistic competition D. Oligopoly and pure monopoly