To counter the recession of 2008-2009 President Obama and congress created a large increase in government expenditures
a. True
b. False
Indicate whether the statement is true or false
True
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In the above figure, the diagram shows
A) a downward trend in x. B) an upward trend in x. C) a scatter diagram. D) a two-variable scatter diagram. E) a cross-section graph between x and time.
Everything else remaining unchanged, if a new seller enters a market to compete with an existing monopoly that is enjoying economies of scale, it will lead to:
A) higher profits for both firms. B) higher profits for the existing firm. C) lower profits for the existing firm. D) higher market power for the existing firm.
In economics, normative statements are about
A) the way things ought to be. B) the way things are. C) marginal benefits, not marginal costs. D) marginal costs, not marginal benefits.
Describe the conditions under which monopoly exists. Give two examples
What will be an ideal response?