Which of the following is true?
A. Monopolists never lose money in the short-run or long-run.
B. Monopolies can only be overcome by government action.
C. Having a recognizable brand name is a barrier to entry that can preserve monopoly power.
D. Patents are granted to investors who have control over an essential resource.
C. Having a recognizable brand name is a barrier to entry that can preserve monopoly power.
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Which one of the following is an example of passive policy making?
A) introducing expansionary monetary policy to combat a recession B) introducing expansionary monetary policy to combat inflation C) introducing expansionary fiscal policy to combat a recession D) following a predetermined monetary policy rule
In what year did the housing bubble burst?
a. 2000 b. 2006 c. 2008 d. There was no such event.
Explain how monopolistic ally competitive producers try to improve on the condition of just breaking even in the long run. Is this improvement a benefit for consumers?
What will be an ideal response?
A chain-weighted index
A) calculates changes in prices by using an average of base years from neighboring years to obtain a more accurate measure of real GDP growth. B) is used to understate the rate of inflation. C) is a useful tool for determining which fence to purchase. D) uses neighboring years' data to calculate changes in nominal GDP.