Which phrase best completes the table? Monopoly
Benefits
Drawbacks
Has more money for research and Allows for little competition between
development
businesses
?
May lead to price-fixing
A. Has lower production costs due to economies of scale
B. Has a greater variety of products available to consumers
C. Is less likely to be regulated by the government
D. Easily adapts to changing consumer preferences

Which technological breakthrough of the 1950s revolutionized the way that americans kept up with news and world events? a) radio b) internet c) television d) motion pictures

Which statement below accurately describes the carrying capacity of any ecosystem? a. it is not affected by any abiotic or biotic resources. b. it does not affect the species of an ecosystem. c. it is completely dependent upon the food supply. d. it is affected by both abiotic and biotic resources

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.