Which is an ironic solution to the government protected monopoly?
A) The government might try to "force" less competition in the market.
B) The government might "do more" by "doing less," i.e., by removing the monopoly's protection.
C) The dead weight loss goes to the government.
D) The inherent unfairness of monopoly can only be solved by dictatorship.
B
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According to the Taylor, if there is an expansionary gap of 2 percent of potential output and inflation is 3 percent, what real interest rate will the Fed set?
A. 0.015 B. 0.02 C. 0.035 D. 0.025
Even though the catalogs listed in the Application were reissued every six months, the prices which were tracked in these retail catalogs
A) were not listed due to low rates of inflation. B) changed every month. C) tended to fall during periods of high inflation. D) were typically fixed for a year or more.
The more complicated the process used to produce a good,
a. the greater are the transaction costs of organizing production through markets b. the lower are the transaction costs of organizing production through markets c. the less likely a firm will use administrative controls to organize the production process d. the more likely a firm will use the market to organize the production process e. the more likely consumers will choose to purchase the good over other alternatives in the market
By 2006, 20 percent of the mortgage market consisted of:
A. subprime loans, while 80 percent were still regular prime mortgages. B. prime loans, and an overwhelming 80 percent had become subprime mortgages. C. securitized loans, and the rest were backed by the government. D. individual mortgage loans, and an overwhelming 80 percent had become securitized loans.