For natural monopoly markets, government regulators frequently encourage competition among a number of firms.
Answer the following statement true (T) or false (F)
False
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The price of a new textbook is $120 in one year and is $150 two years later, while the price of a used copy of the text increased from $40 to $60. The relative price of a new textbook
A) increased from 3 to 4.5. B) decreased from 0.8 to 0.67. C) decreased from 3 to 2.5. D) remained constant.
Which of the following is a stock variable? The number of
A. unemployed people. B. job losers. C. job leavers. D. reentrants.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30. B. exactly 60. C. fewer than 30. D. exactly 30.
A tariff is a
A. subsidy to workers harmed by U.S. trade with foreign countries. B. limit on the quantities of a good that can be imported each year. C. tax on exports that tends to make them cheaper for foreigners to buy. D. tax on imports that raises their prices and makes them less attractive to domestic consumers.