To maintain a monopoly, a firm must have
A) an insurmountable barrier to entry. B) a perfectly inelastic demand.
C) few competitors. D) marginal revenue equal to demand.
A
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What are law-making lags? What effect do they have on the use of discretionary fiscal policy?
What will be an ideal response?
Which of the following has been suggested as reasons for Mexico's slow economic growth?
A) Mexico's long-ruling PRI political party B) Mexico's Spanish colonial background C) Mexico's legal restrictions on the financial sector D) all of the above
If the economy is in a recession, the inflation rate is ________ it would be at potential GDP. Other things equal, if the government implemented an expansionary fiscal policy, the inflation rate would ________
A) greater than; remain constant B) greater than; decrease C) less than; increase D) less than; remain constant
Studies generally agree that there are 10-15 million people in the "underclass."
Indicate whether the statement is true or false