Monopolies are discouraged in the United States because
A. they are more efficient than other industries.
B. they restrict output and raise prices.
C. they can produce at lower cost in the short run.
D. they hire too few workers for their production volumes.
Answer: B
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Use the following graph to answer the next question.
Which of the following factors will shift AD1 to AD3?
A. A decrease in consumer wealth B. An increase in expected returns on investment C. A decrease in real interest rates D. An increase in productivity
If the shifts in AD that will result from policy changes are fully and accurately anticipated, an increase in government purchases or a decrease in taxes would result in which of the following in the short run?
a. a higher level of real output and a higher price level b. a higher level of real output but no change in the price level c. a higher price level and a reduced level of real output d. a higher price level but no change in real output
Which one of the following statements is true?
a. A static reserve index will indicate a longer resource lifetime than an exponential reserve index b. A reserve base index indicates a longer resource lifetime than a reserve index c. Most non-renewable resource prices have increased over the past 40 years d. Eventually all physical reserves of non-renewable resources will be depleted e. The price path for a non-renewable resource typically looks like an inverted U shape
In the figure above, the tariff ________ U.S. imports of shirts by ________ million shirts per year
A) decreases; 16 B) decreases; 8 C) increases; 8 D) increases; 4