United States net unilateral transfers have been
a. positive every year since 1950
b. negative every year since 1950
c. positive every year since 1950 except 1991, during the Persian Gulf War
d. negative every year since 1950 except 1991, during the Persian Gulf War
e. positive about half the time and negative about half the time since 1950
D
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Refer to Figure 7-1. Under autarky, the consumer surplus is area
A) S + V. B) S. C) R. D) R + S + V.
Economies of scale will create a barrier to entry in an oligopoly when
A) a firm's minimum efficient scale occurs where long-run average total costs are constant. B) the typical firm's long-run average total cost curve reaches a minimum at a level of output that is a large fraction of total industry sales. C) the typical firm's long-run average total cost curve reaches a minimum at a level of output that is a small fraction of total industry sales. D) the industry's four-firm concentration ratio is less than 40 percent.