A _______ monopoly is an industry in which it makes economic sense to have only one provider.
A. competitive
B. natural
C. original
D. specific
Answer: B
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When a society cannot produce all the goods and services people wish to have, it is said that the economy is experiencing
a. scarcity. b. shortages. c. inefficiencies. d. inequities.
Rob's income rises from $50,000 to $60,000 and his income tax increases from $6,000 to $7,500.His marginal tax rate is 12.5%
a. True b. False Indicate whether the statement is true or false
Which of the following probably slowed NAFTA's effect on the wages of Mexican workers?
a. the Mexican peso crisis in which Mexico's currency fell greatly in value b. the reluctance of the U.S. government to allow guest workers c. the Iraq war d. so much illegal immigration
A bank is a financial intermediary. Which of the following statements is most accurate?
A. The bank's depositors are the ultimate lenders and the bank is the ultimate borrower. B. The bank's depositors are the ultimate lenders, while those seeking loans from the bank are the ultimate spenders. C. Those seeking loans from the bank are the ultimate spenders; the bank's stockholders are the ultimate lenders. D. People seeking loans from the bank are the ultimate spenders while the bank is the ultimate lender.