In a natural monopoly, government regulation is often used to ensure more beneficial price and output combinations for consumers in the market than would exist in the absence of regulation
a. True
b. False
Indicate whether the statement is true or false
True
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Barter eliminates the double coincidence of wants
Indicate whether the statement is true or false
People are willing to give up monetary rewards to promote fairness
a. True b. False Indicate whether the statement is true or false
Monetary policy is ________ flexible than fiscal policy because monetary policy changes are made by ________, while fiscal policy changes must be made by ________.
A. more; the President; legislative action B. more; legislative action; the FOMC C. more; the FOMC; legislative action D. less; the FOMC; the President
In the absence of a financial system, the two-period model without taxes predicts that
A) consumption is more volatile that output. B) consumption is as volatile as output. C) consumption is less volatile than output. D) We do not know.