The time and money spent by a monopoly firm on lobbying for favorable government policies is called
a. the capitalized value of the firm
b. limit pricing
c. rent-seeking activity
d. administered pricing
e. implicit cost
C
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Suppose that the quantity demanded for cars exceeds the quantity supplied of cars. We would expect that
A. the demand will decrease (demand will shift to the left to meet the supply. B. the price of cars will increase. C. the supply will increase (supply will shift to the right to meet the demand. D. the price of cars will decrease.
A small country is an international lender and its domestic supply of loanable funds increases. Consequently, the equilibrium quantity of loanable funds used in the country ________ and the country's international lending ________
A) increases; decreases B) does not change; does not change C) does not change; increases D) increases; does not change
The total social costs of production are:
a. private costs plus private benefits.
b. private benefits minus private costs.
c. private costs plus external costs
d. private costs minus external costs.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.