Which of the following is not a reason for the existence of a monopoly?
a. sole ownership of a key resource
b. patents
c. copyrights
d. diseconomies of scale
d
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The federal budget was in deficit from 1931 to 1939, except in the year 1937
Given this fact, how do you explain E. Cary Brown's statement, "Fiscal policy, then, seems to have been an unsuccessful recovery device in the 'thirties-not because it did not work, but because it was not tried."
As the large baby-boom generation moves into the retirement phase of life, this will
a. make it easier for the federal government to finance its budget deficit because the baby-boomers will be the wealthiest generation of retirees in American history. b. make it easier for the federal government to reduce spending because senior citizens do not spend much on consumption. c. make it more difficult for the federal government to finance its budget deficit because the retirement of the baby-boomers will mean more expenditures for Social Security and Medicare. d. not affect the federal deficit because there is no reason to expect that either federal spending or tax revenues will be influenced by the retirement of the baby-boomers.
If a country's budget deficit rises, then its exchange rate
a. rises, so its imports rise. b. rises, so its imports fall. c. falls, so its imports rise. d. falls so its imports fall.
What is the effect when there is an increase in the European inflation rate relative to the U.S. interest rate?
a. Europeans buy fewer dollars, shifting S1 to S2.
b. U.S. consumers buy more European goods, shifting D1 to D2.
c. Europeans supply euros to buy more dollars, shifting S1 to S2.
d. U.S. consumers demand more euros, shifting S1 to S2.