Which of following is the best example of a monopoly if we use a broader definition of monopoly?
A) Santos Tacos, the only taqueria in the small town of Santosville
B) Cheap Gas, one of two gasoline stations in a large rural community
C) Spuds McKenzie, a wealthy potato farmer in Idaho
D) Zippie Rentals, a sports car rental service in the downtown Boston area
A
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In the figure above, if the exchange rate is equal to 2 Canadian dollars per U.S. dollar, there is a ________ of ________currency and the exchange rate will________
A) surplus; domestic; fall B) surplus; foreign; fall C) surplus; domestic; rise D) shortage; domestic; fall
The _____________________ is the effect of a change in the price of an input on the firm's relative use of the input to produce a given level of output
Fill in the blank(s) with the appropriate word(s).
If a bank has demand deposits of $100 million, how much are its required reserves?
What will be an ideal response?
Use the aggregate expenditures model and the following values to answer the next question. AMPCIGT$7500.5$1,000$1,000$500Determine equilibrium real GDP for this economy.
A. $5,000 B. $5,500 C. $4,000 D. $4,500