Local electric or gas utility companies mostly operate in which market structure?
A. Monopolistic competition
B. Pure competition
C. Pure monopoly
D. Oligopoly
C. Pure monopoly
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As of December 31, 2010, the assets listed on the balance sheet of Bank A were: $1.5 million in cash reserves, and $6 million in outstanding loans to its customers. Its liabilities totaled $6.5 million in checking deposits. What was the bank's net worth on that date?
a. $1 million b. $4.5 million c. $5 million. d. $14 million. e. Zero
Suppose the price elasticity of demand for a product is 0.5 . If a supplier wants to increase revenue, what change should it make to price, if any?
A simultaneous increase of government purchases by $50 billion and a tax hike of $50 billion should stimulate the economy by $50 billion.
Answer the following statement true (T) or false (F)
Which of the following generates demand for foreign currencies?
A. Exports from the United States to foreign countries. B. Transfers of money from foreigners to relatives in the United States. C. The purchase by foreigners of bonds issued by the U.S. government. D. Expenditures by Americans traveling abroad.