Limited government licenses that create a monopoly do so because
A) the license generates a marginal cost advantage.
B) the monopoly will become a natural monopoly.
C) a barrier to enter the market exists.
D) All of the above.
C
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Figure 19-2
In Figure 19-2, the derived demand curve is the line
A. ABCD. B. CDEF. C. DEF. D. ABCDEF.
As contrasted to the mainstream view, Keynesian economists believe that ________ than mainstream economists believe
A) the multiplier effect is larger B) the burden of government debt on future generations is larger C) fiscal stimulus is weaker D) potential GDP is smaller E) the real GDP growth rate is higher
Xavier is on layoff from his assembly-line job in Detroit, and he expects to return in about four weeks. During this time, he is vacationing in Florida. The Bureau of Labor Statistics would classify Xavier as
a. employed. b. unemployed. c. not part of the labor force. d. a temporary retiree.
Refer to the information provided in Table 24.7 below to answer the question(s) that follow.
Table 24.7All Numbers are in $ Million
Refer to Table 24.7. Suppose the economy is in equilibrium and the government increases spending by $100 million, the new equilibrium output is $________ million
A. 1,600 B. 1,800 C. 1,900 D. 2,400