Answer the following questions true (T) or false (F)
1. A monopoly is a firm that is the only seller of a good or service that does not have a close substitute.
2. Unlike a perfect competitor, a monopolist faces the market demand curve.
3. A natural monopoly is characterized by large fixed costs relative to variable costs.
1. TRUE
2. TRUE
3. TRUE
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From the late 1860s until 1907 the U.S. averaged a four percent or more increase in the real value of the goods and services produced
Indicate whether the statement is true or false
Which of the following is not a common characteristic of IACs?
a. Market-based economies. b. Large stocks of technologically advanced capital. c. Well-educated labor. d. Low per capita energy consumption.
You are a financial advisor and a client tells you he is concerned about the amount of risk in his portfolio. Assuming your client hasn't already done them, what two things can you suggest to reduce your client's risk? What additional information about reducing risk should you provide?
Suppose real GDP in a country called Gambria is increasing by 5% annually and the population of Gambria is increasing by 2% annually. Then, :
A. Gambria's population must be declining. B. Gambria will have to export more than it imports. C. the general level of prices in Gambria must be increasing. D. Gambria's per capita real GDP will be increasing.