The United States Post Office
A) has a monopoly in the provision of first-class mail service.
B) can safely ignore the prices for mail services charged by its rivals such as FedEx and UPS.
C) is an example of a monopoly that results from the ownership of a key resource: first class mail service.
D) faces no competition for its mail services.
A
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Which movement between two points represents economic growth?
A. J to K
B. K to L
C. L to M
D. M to N
Relative to when a patient has first-dollar medical insurance, the loss in total economic surplus would be smaller if:
A. medical care providers had to pay the full marginal cost of medical care. B. the patient had to pay at least some of the marginal cost of medical care. C. the patient had to pay less of the marginal cost of medical care. D. medical care providers had to pay more of the marginal cost of medical care.
The burden of debt is borne by future generations.
A. True B. False C. Uncertain
Which of the following will discourage investment?
a. well-defined property rights b. monetary instability c. a low and steady rate of inflation d. low tax rates