Brazil's Second Republic Was

question 26

Multiple Choice

Brazil's Second Republic was:

• A)polarized between supporters and opponents of Vargas.
• B)a stable democracy that continues to the present.
• C)buoyed by a very strong economy.
• D)a successful laboratory for consolidating democratic elements.
• E)a dictatorship run by the military.

---

Definitions:

Normal Profits

The minimum profit necessary for a company to remain competitive in the market, often equated to the opportunity cost of capital.

Allocative Efficiency

A state of the economy where resources are allocated in a way that maximizes the overall benefit to society.

Productive Efficiency

A point at which an economy operates at the lowest possible cost by utilizing all of its resources efficiently.

Pure Nondiscriminating Monopolist

A monopolist who charges all consumers the same price for a good or service, regardless of the quantity purchased or consumer preferences.