Monopolies generally ________ technology and globalization.
A. lead to an increase in
B. are unaffected by
C. thrive with
D. are reduced in number by
Answer: D
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Other things remaining the same, in the long run ________ in the quantity of money brings an equal percentage ________
A) a decrease; increase in the price level B) an increase; decrease in the price level C) a decrease; increase in the nominal interest rate D) a decrease; decrease in the price level E) an increase; increase in the real interest rate
In a two-country, two-product world, the statement "Germany enjoys a comparative advantage over France in autos relative to ships" is equivalent to
A) France having a comparative advantage over Germany in ships. B) France having a comparative disadvantage compared to Germany in autos and ships. C) Germany having a comparative advantage over France in autos and ships. D) France having no comparative advantage over Germany. E) France should produce autos.
A decrease in population would shift the demand curve to the left.
Answer the following statement true (T) or false (F)
Keynesian economics predicts that if government policy makers deem current equilibrium real Gross Domestic Product (GDP) to be "too low," then an appropriate policy action would be to
A. raise government spending, thereby increasing aggregate demand and pushing up real Gross Domestic Product (GDP) with little or no inflationary consequences. B. reduce the money stock, thereby causing aggregate demand to decrease and inducing a rise in fall in the price level that generates an increase in total planned expenditures. C. do nothing, because the economy is self-adjusting. D. increase taxes, thereby causing aggregate demand to increase and inducing a rise in real Gross Domestic Product (GDP) with little or no inflationary consequences.