Which of the Following Statements About the Current French Political

question 7

Multiple Choice

Which of the following statements about the current French political economy is accurate?

• A)The French economy is very capable of reform in part because it remains very competitive among other advanced democracies, and the French people are growing to accept the need for reform.
• B)President Hollande continued President Sarkozy's policy of austerity and structural reform upon taking office.
• C)Between early 2012 and 2014, the French economy responded to the new socialist government with the lowest unemployment levels in two decades.
• D)The French agricultural sector has withered in large part because membership in the EU has exposed it to cheap exports from eastern members.
• E)France has largely abandoned the dirigiste model of state intervention in the economy in response to declining GDP per capita.

---

Definitions:

Average Total Cost

The total cost of production divided by the number of units produced, essentially representing the per-unit production cost.

Marginal Cost

The financial outlay involved in the manufacture of one more unit of a product or service.

Monopoly Power

The capacity of a firm to control market prices and exclude competition, often by being the sole provider of a product or service.

Barriers to Entry

Barriers that make it difficult for new entrants to join a market or business sector.