A market in which there is only a single seller and a single buyer is a:
A. perfectly competitive market.
B. monopoly.
C. monopsony.
D. bilateral monopoly.
Answer: D
You might also like to view...
Using the formula for an infinite sum, if "r" designates the reserve ratio, the 1 / reserve ratio would equal
A) (1 - r). B) 1 / (1 - r). C) r / (1 - r). D) 1 / [1 - (1 - r)].
According to the text, U.S. manufacturing data show that
a. the economy is rapidly becoming more concentrated into the hands of the few b. the economy today is less concentrated than it was in 1865, just after the Civil War c. concentration in the economy has remained fairly stable over the past 40 years d. the U.S. economy is much more concentrated than most other industrialized nations of the world e. concentration has fallen rapidly over the past 40 years
Big-push strategy investments are designed to
a. aid the rich landowners (who run the LDC governments) at the expense of the poor peasants b. invite back successful colonial development into the LDCs c. keep new forms of colonialism out of the LDCs d. generate tax revenues for development e. create the all-at-once development upon which private investment can flourish
If the World Bank lends $10 million to the government of Fiji to develop new sugar cane fields, that would be seen on Fiji’s international balance of payments as a
a. unilateral transfer. b. settlement account entry. c. financial account entry. d. service transaction in the current account.