Monopoly market structures may lead to lower prices than competitive markets in the presence of
a. price discrimination
b. laissez-faire
c. contestable markets
d. substantial economies of scale
e. countervailing power
D
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Increasing opportunity cost occurs along a production possibilities frontier because
A) resources are not equally productive in all activities. B) increasing wants need to be satisfied. C) in order to produce more of one good decreasing amounts of another good must be sacrificed. D) production takes time.
The United States economy ______________ operates on its production possibility curve.
A. Always B. Sometimes C. Never
As a portion of total assets measured in billions of dollars, the most important asset on the Fed's balance sheet is:
A. gold. B. foreign exchange reserves. C. securities. D. loans.
A decrease in taxes would cause:
A. the dynamic aggregate demand curve to shift to the right. B. the dynamic aggregate demand curve to shift to the left. C. a movement up and along the existing dynamic aggregate demand curve. D. a movement down and along the existing dynamic aggregate demand curve.