A market structure in which only one firm survives because of economies of scale:
a. is called a structural monopoly
b. is called a patented monopoly.
c. is called a natural monopoly.
d. is called a government monopoly.
c
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The above table gives data for the nation of South Hampton. There are no imports into or exports from South Hampton. If real GDP is equal to $900 billion, then
A) aggregate planned expenditure is greater than real GDP. B) aggregate planned expenditure will need to decrease to reach the equilibrium. C) aggregate planned expenditure is less than real GDP. D) this is the equilibrium level of real GDP. E) aggregate planned expenditure is equal to real GDP.
A lower price level causes
a. the entire aggregate expenditure to shift up. b. the entire aggregate demand curve to shift to the right. c. a movement along a given aggregate demand curve. d. both a movement along a given aggregate demand curve and the entire aggregate expenditure to shift up.
Which of the following is not a loan of funds?
a. home mortgage b. government bond c. corporate stock d. corporate bond
In many countries, the government chooses to "internalize" the monopoly by owning monopoly providers of goods and services. (In some cases these firms are "nationalized," and the government actually buys or confiscates firms that operate in monopoly
markets). What would be the advantages and disadvantages of such an approach to ensure that the "best interest of society" is promoted in these markets? Explain your answer.