One defining characteristic of pure monopoly is that:
A. the monopolist produces a product with no close substitutes.
B. the monopolist is a price taker.
C. there is relatively easy entry into the industry, but exit is difficult.
D. the monopolist uses advertising.
Answer: A
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In the mid 1980s, the massive current account deficits were related to massive U.S. government budget deficits
Indicate whether the statement is true or false
The securities, such as stocks or bonds, constitute a(n) ________ for the savers and a(m) ________ for the borrowers
A) asset; liability B) debt; assets C) liability; asset D) debt or an asset; liability or an asset
John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the accompanying table.Time cleaning windows (hours/day)Total number of windows cleaned0017211314416517 What is John's opportunity cost of cleaning windows for an hour?
A. $8 B. $2 C. $7 D. $14
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.