The product supplied by a monopoly firm has
A. a few substitutes.
B. no close substitutes.
C. a large number of substitutes.
D. two or three close substitutes.
Answer: B
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Which of the following statements about the ripple effects of monetary policy is FALSE? Monetary policy can
A) raise the federal funds rate, thereby decreasing the quantity of money, raising the real interest rate, and decreasing investment. B) lower the federal funds rate, thereby increasing the supply of loanable funds, and lowering the exchange rate. C) lower the federal funds rate, thereby lowering the real interest rate and increasing aggregate demand. D) raise the federal funds rate and shift the aggregate demand curve leftward. E) raise the federal funds rate, thereby raising the real interest rate and increasing potential GDP.
Most economists agree that the government should use incomes policies to control inflation during peacetime
a. True b. False Indicate whether the statement is true or false
When taxes increase, consumption
a. decreases as shown by a movement to the left along a given aggregate-demand curve. b. decreases as shown by a shift of the aggregate demand curve to the left. c. increases as shown by a movement to the right along a given aggregate-demand curve. d. increases as shown by a shift of the aggregate demand curve to the right.
According to the United Nations, approximately what percentage of the world's income is received by the richest one-fifth of the world's population?
A. 20 percent. B. 30 percent. C. 60 percent. D. 80 percent.