A natural monopoly has
A. many producers of the same product.
B. easy access to the market.
C. a single firm providing the industry's output.
D. one buyer of output.
C. a single firm providing the industry's output.
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________ marginal costs of production would tend to ________ a good's ________
A) Higher; increase; supply curve B) Lower; increase; supply curve C) Lower; decrease; supply curve D) lower; increase; demand curve
The Fed can drive up interest rates by selling government securities and decreasing the money supply
a. True b. False Indicate whether the statement is true or false
An economic policy initiative results in the AD curve shifting to the right. As a result,
A) the price level will rise. B) the price level will stay constant. C) the price level will fall. D) Real GDP will rise in the short run. E) a and d
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A. rich people buy too much health care and poor people buy too little. B. some resources now used in the health care industry could produce alternative goods and services that society values more highly. C. health care is being purchased in amounts such that marginal benefits exceed marginal costs. D. the price of health care is below equilibrium so that quantity demanded exceeds quantity supplied.