An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called a(n) ________ monopoly.
A. patent
B. fixed cost
C. natural
D. economies of scale
Answer: C
Economics
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The job protection argument states that trade restrictions are needed to prevent the loss of jobS in domestic industries.
a. true b. false
Economics
As inflation increases, households become ________ uncertain leading to ________ spending.
A. less; less B. more; more C. less; more D. more; less
Economics
A higher income tends to make demand for a given good ______ elastic.
Fill in the blank(s) with the appropriate word(s).
Economics
Monetary policy affects economy-wide interest rates by:
A. setting the federal funds rate. B. conducting open market operations. C. changing bank reserve requirements.
Economics