Monopolies, whose market position is based on exclusive access to resources, eventually lose their monopoly power when there is
a. increasing brand loyalty on the part of consumers
b. an expiration in their patents
c. a development of new technologies
d. exclusive access to resources
e. a negative cross elasticity with other goods in the market
C
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The money multiplier:
A. Is equal to the required reserve ratio times transactions deposits. B. Gets larger as the required reserve ratio increases. C. Is the reciprocal of the required reserve ratio. D. Represents the lending capacity of an individual bank.
Which of the following numbers, if it were equal to the 80/20 ratio for a particular country, would indicate the most inequality?
A. 1
B. 2
C. 0
D. 0.5
If P were 6, V were 10, and Q were 2,000, how much is M?
What will be an ideal response?
The "acceptable deaths" notion suggests that it is better to have the benefits of a good to the buyer and seller with a specified number of deaths,
A. than to prohibit the good's production and use entirely. B. in no circumstance. C. than to let the good be produced outside the US. D. but only if the deaths are of less desirable people.