Unrestrained monopolies are criticized because they restrict output and reduce innovation.
Answer the following statement true (T) or false (F)
True
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Why might an amusement park switch from charging admission to the park and charging for the rides to charging for admission but not charging for the rides?
What will be an ideal response?
If the interest rate falls, the opportunity cost of holding money __________ and the quantity demanded of money __________
A) rises, rises B) rises, falls C) falls, rises D) falls, falls
Suppose there are two small island countries: Avarice, which is populated by people who are completely self-interested, and Altruism, which is populated by people who have adopted social norms of generosity and cooperation. If two residents of Avarice play a prisoner's dilemma game, they are likely to:
A. reach the Nash equilibrium less often than would residents of Altruism. B. play their dominated strategies more often than would residents of Altruism. C. reach the Nash equilibrium more often than would residents of Altruism. D. never reach the Nash equilibrium.
Rising per-unit production costs are most directly associated with:
A. structural unemployment. B. demand-pull inflation. C. cost-push inflation. D. frictional unemployment.