Competition is essentially the search for
A) accounting profit.
B) economic profit.
C) zero tax liability.
D) the market with the most competitors.
B
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Which of the following is an example of an ordinary private good?
A) Furniture B) The Internet C) Water D) Cable TV
In many cities, the market for cab services is monopolized. This monopoly arises because:
a. of economies of scale. b. of government restrictions on the entry of new firms. c. there is a limited space on the streets for taxis. d. it protects the consumers from unscrupulous drivers. e. of high fixed costs of entering the business.
Federal budget deficits generally grow during recessions because
a. both tax revenues and transfer payments decrease. b. both tax revenues and transfer payments increase. c. tax revenues decrease while transfer payments increase. d. tax revenues increase while transfer payments decrease. e. tax revenues decrease but transfer payments are unchanged.
What is the role of the "discount window" in preventing financial crises? How was it used during the financial crisis of 2007-2009?
What will be an ideal response?