An industry in which total costs are kept to a minimum because only one firm serves the whole market is called a:
a. natural monopoly.
b. competitive monopoly.
c. patent monopoly.
d. limit monopoly.
a
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If there is a(n) __________ in reserves, the potential change in demand deposits is __________
A) deficiency; 0 B) deficiency; positive C) deficiency; negative D) excess; negative
Why is it easier for a partnership to borrow money and to hold good employees than it is for a sole proprietorship to do so?
a. The more limited access to a partner's personal funds make the business more careful. b. The large number of partners makes it more likely that the business will be a success. c. The larger number of partners means that people are easier to get along with. d. A partnership has more personal stability and access to more money.
If aggregate demand increases and as a result equilibrium real GDP and employment increase but the price level remains unchanged, we can assume that the aggregate demand curve
A. is vertical. B. is horizontal. C. intersects a vertical segment of the aggregate supply curve. D. intersects a horizontal segment of the aggregate supply curve.
Consider the bonds below. Which is subject to the greatest interest-rate risk?
A. A 20-year corporate bond B. A 30-year fixed-rate mortgage (fixed payment loan) C. A consol D. A Treasury bill