Which of the Following Statements About War Is True

question 14

Multiple Choice

Which of the following statements about war is true?

• A)War occurs frequently between powerful countries.
• B)War occurs frequently between developing countries.
• C)Recently,civil wars have been less frequent than interstate wars.
• D)War tends to occur when states rely too much on diplomacy.
• E)War occurs infrequently between any states.

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Definitions:

Monopoly Profits

The excess profits earned by a monopoly as a result of its ability to set price above marginal costs due to lack of competition.

Duopoly

A market structure dominated by two firms, each of which has significant control over the market price.

Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at different prices.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as the quantity of output sold changes, typically downwards sloping for firms in imperfectly competitive markets.