Proponents of ISI assumed that governments
A) were capable of identifying and correcting market failures.
B) were capable of identifying and correcting the excesses of economic populists.
C) should enact orthodox stabilization plans.
D) could control the terms of trade.
A
Economics
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City streets, sewage systems, and police protection are all examples of:
a. public goods. b. private goods. c. exclusive goods. d. rival goods. e. consumer goods.
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Which of the following is uncharacteristic of monopolistic competition in the long run?
a. firms selling heterogeneous products b. zero economic profits c. price in excess of marginal revenue d. equilibrium on the increasing portion of the average total cost curve
Economics