One of the elements of monopolization is
A) having a superior product or having a superior business acumen..
B) the possession of monopoly power in the relevant market.
C) when only one firm exists in an industry.
D) having a significant pricing power due to an accident in the relevant market.
B
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When a currency decreases in value relative to another currency, the currency has
A) declined. B) appreciated. C) accelerated. D) decelerated. E) depreciated.
Workers in durable-goods industries are ________ workers in service industries to lose their jobs during a recession.
A. equally likely as B. less likely than C. much less likely than D. more likely than
The most important among the Federal Reserve district banks in conducting monetary policy is the:
A. Boston bank B. Chicago bank C. New York bank D. San Francisco bank
When the aggregate demand curve and the short-run aggregate supply curve intersect,
A) the economy is in short-run macroeconomic equilibrium. B) inflation must be increasing. C) structural and frictional unemployment equal zero. D) the long-run aggregate supply curve must also intersect at the same point.