Which of the following strategies is not an effective strategy to reduce monopoly inefficiency?
a. antitrust laws
b. price discrimination
c. doing nothing
d. breaking up a natural monopoly into more than one firm
d
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Under a strict liability standard, the person who causes an accident is liable
a. whether or not he has been negligent. b. if he could have prevented the accident at a cost less than the damages caused. c. if he could have prevented the accident at a cost less than the damages caused times the probability of the accident's occurrence. d. unless the plaintiff could have prevented the accident at a cost less than the damages incurred times the probability of the accident's occurrence.
The figure above shows the demand for and supply of labor of students in Smallville. If the minimum wage is set at $8 per hour, how many hours of students' labor are unemployed?
A) 12,000 hours B) 9,000 hours C) 6,000 hours D) 0 hours
From before the financial crisis began in September of 2007 to when the crisis was over at the end of 2009, amount of Federal Reserve assets rose, leading to
A) a huge increase in the monetary base. B) a huge expansion of the money supply. C) an economic expansion. D) a high inflation.
In the Keynesian view, a reduction in the marginal income tax rate would cause
a. output to rise and the price level to fall. b. both output and the price level to rise. c. output to rise with the price level unchanged. d. the price level to rise with output unchanged.