An industry that realizes such large economies of scale in producing its product that ________ production of that good or service is most efficient is called a natural monopoly.
A. government
B. single-firm
C. multi-firm
D. no
Answer: B
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Which of the following is not considered a unilateral transfer?
a. foreign aid from one government to another b. income earned from foreign investments c. personal gifts to friends in foreign countries d. donations to foreign countries from non-government domestic charities e. government transfers to foreign residents
The inflation rate for 2007 is computed by dividing (the CPI in 2007 minus the CPI in 2006) by the CPI in 2006, then multiplying by 100
a. True b. False Indicate whether the statement is true or false
Which of the following statements is correct?
a. The demand for flat-screen computer monitors is more elastic than the demand for monitors in general. b. The demand for grandfather clocks is more elastic than the demand for clocks in general. c. The demand for cardboard is more elastic over a long period of time than over a short period of time. d. All of the above are correct.
.Which of the following will most likely occur during the expansionary phase of a business cycle?
What will be an ideal response?