According to the text, government licensing frequently enables monopoly in
A) agriculture.
B) electricity production.
C) mining.
D) retail sales.
B
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80% of the total number of people in Genovia with health insurance are above 40 years of age. Which of the following economic concepts helps in explaining this fact?
A) The concept of negative externalities B) The concept of adverse selection C) The concept of free riding D) The concept of positive externalities
The following linear demand specification is estimated for Conlan Enterprises, a price-setting firm:Q = a + bP +cM +dPRwhere Q is the quantity demanded of the product Conlan Enterprises sells, P is the price of that product, M is income, and PR is the price of a related product. The results of the estimation are presented below: 
Given the above, at the 1% level of significance, which estimates are statistically significant?
A. Only a?, b, and c? are statistically significant B. All are statistically significant C. Only a? is statistically significant D. All but a? are statistically significant E. All but b and d are statistically significant
If there are no changes in inflation expectations, a fall in the federal funds rate:
A) increases both the long-run nominal interest rate and the long-run expected interest rate. B) decreases the long-run nominal interest rate and increases the long-run expected interest rate. C) decreases both the long-run nominal interest rate and the long-run expected interest rate. D) increases the long-run nominal interest rate and decreases the long-run expected interest rate.
With price on the vertical axis and quantity on the horizontal axis, economists would draw an increase in supply as
A) a leftward shift in the supply curve. B) a rightward shift in the supply curve. C) a vertical supply curve. D) any which way we like.