Which of the following firms is considered a monopoly?
A. The U.S. Postal Service
B. Taco Bell
C. United Airlines
D. Macy's Department Store
Answer: A
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Changes in business inventories
A) are included in gross but not in net investment. B) can either be positive or negative. C) are not included in GDP because they are not sold to anyone. D) are only partly included in GDP because part of these are holdings of intermediate goods.
Which of the following will not shift the demand curve for grapefruit?
a. an announcement that eating a grapefruit before every meal will induce weight loss b. a new technology that cuts the labor time needed to harvest grapefruit c. an announcement that eating grapefruit causes skin problems d. a fall in the price of oranges e. an announcement that the price of grapefruit will increase next week
The business activities of Firm A confer positive externalities on Firm B, and the business activities of Firm B confer positive externalities on Firm A. If the two firms merged, then
a. their respective markets would move closer to the social optimum. b. their respective markets would move further away from the social optimum. c. total surplus in their respective markets would decrease. d. the merger would serve as an example of a misguided public policy toward externalities.
The United States abandoned the Bretton Woods system of exchange rates in
A) the 1920s. B) the 1940s. C) the 1970s. D) the 1990s.