In states where the government runs liquor stores, the monopoly results from
A) economies of scale.
B) legal restrictions.
C) control of an essential resource.
D) patents.
E) public fear.
B
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Charlie is willing to pay $10 for a T-shirt that is priced at $9. If Charlie buys the T-shirt, then his consumer surplus is
A. $19. B. $0.90. C. $1. D. $90.
The current account must necessarily always be in balance
Indicate whether the statement is true or false
Recalling some historical detail of the chapter, the rapid growth of Boeing was primarily due to
a. competitive pricing policies b. strong advertising campaigns c. a horizontal merger with McDonnell Douglas d. a vertical merger with McDonnell Douglas e. a conglomerate merger with McDonnell Douglas
An inflationary gap exists when:
A. output exceeds aggregate demand. B. aggregate demand exceeds output. C. potential output exceeds actual output. D. actual output exceeds potential output.