In a monopolistically competitive market, the advantage that a seller has over competitors or newcomers is
A. the high price elasticity of supply for its product.
B. the licenses or patents it has received.
C. the consumer preference for its brand.
D. the high price elasticity of demand for its product.
Answer: C
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The significance of dead capital is that
A) it is difficult to allocate to its most efficient use. B) its fixed cost is too high. C) it is being removed from its most efficient use. D) it replaces too many workers.
If health care spending is already on the flat of the curve, it may not be possible to improve health status by increasing spending. In this situation, the best way to improve health status may be to:
a. improve overall educational attainment so people can better follow the advice from the medical community. b. increase the availability of government health insurance. c. improve life-style decisions by reducing smoking, alcohol consumption, and drug use. d. invest in biotechnology to determine the genetic factors that improve health. e. improve access to medical care.
If the Fed wants to implement expansionary monetary policy, it might:
A. sell government securities to reduce the federal funds rate. B. buy government securities to increase the federal funds rate. C. buy government securities to reduce the federal funds rate. D. sell government securities to increase the federal funds rate.