If a seafood restaurant can raise the price of its fried shrimp without losing all of its customers, then the restaurant definitely
A.) has market power
B.) Is experimenting economies of scale
C. Is using predatory pricing
D. has a monopoly
Ans: A.) has market power
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Which of the following shifts the demand curve for movie downloads rightward?
A) a decrease in the price of downloading a movie B) a 10 percent increase in people's income if movie downloads are a normal good C) a decrease in the price of cable television service D) an increase in the quantity and quality of programming included in the basic cable television service package
Between 1950 and 2015 the productivity of wheat farmers in the United States more than doubled. This means that
A) the total amount of wheat produced more than doubled. B) the amount of land and other resources devoted to wheat production more than doubled. C) the amount of wheat produced by the average farmer more than doubled. D) the incomes of wheat farmers more than doubled.
The International Monetary System was established
A) by the United Nations. B) by the Bretton Woods Agreement. C) by the United States, in cooperation with Great Britain. D) during the Great Depression by the League of Nations.
Changes in nominal GDP always reflect changes in real output
a. True b. False Indicate whether the statement is true or false