A ________ monopoly is a market structure in which a monopoly producer sells to a monopoly distributor.
A) successive
B) double
C) dual
D) two-stage
A) successive
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A rightward shift of the long-run aggregate supply curve is caused by
A) an increase in the minimum wage. B) an increase in the average duration of unemployment. C) improvements in technology and resource endowments. D) an increase in the GDP deflator.
Inflation often bestows unearned income on
a. homeowners. b. lenders. c. creditors. d. fixed income receivers.
Refer to the accompanying figure. Assume the market is originally at point W. Movement to point Z is a combination of:
A. an increase in supply and an increase in quantity demanded. B. a decrease in supply and an increase in quantity demanded. C. an increase in demand and an increase in quantity supplied. D. an increase in supply and an increase in demand.
A market shortage occurs when:
A.) The quantity demanded is less than the quantity supplied at a given price. B.) The market price is below equilibrium. C.) Sellers produce a lot of the product and consumers like it a lot. D.) A new product is introduced at the equilibrium price.