An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called a(n)
A. fixed cost monopoly.
B. patent monopoly.
C. economies of scale monopoly.
D. natural monopoly.
D. natural monopoly.
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President Obama's stimulus package in 2009 included
A) new tax cuts but no change in government spending. B) tax increases and decreases in government spending. C) increases in government spending but no change in taxes. D) new tax cuts and increases in government spending.
With the increased usage of cell phone services, what has happened to the price elasticity of demand for land-line telephone services?
A) The absolute value of the price elasticity coefficient has probably gone down. B) It has become more price inelastic. C) It has become more income elastic. D) It has become more price elastic.
With a flexible exchange rate, a nation can choose an inflation rate independent of the rest of the world
Indicate whether the statement is true or false
In recent years the labor force participation rate has been fairly stable
A) as has the labor force participation rate for males, females, minorities, and nonminorities. B) although the female labor force participation rate has fallen while the male labor force participation rate has increased. C) although the male labor force participation rate has fallen while the female labor force participation rate has increased. D) although the labor force participation rate of young adults has increased while the labor force participation rate of those in the 40-55 age classification has fallen.