Money market mutual funds invest in
A) residential mortgages.
B) commercial real estate.
C) long-term government securities.
D) highly liquid assets.
D
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If a marginal cost pricing rule is imposed on the natural monopoly shown in the figure above, then the deadweight loss will equal
A) $0. B) $4 million. C) $8 million. D) $12 million.
Which of the following best describes how recessions are illustrated in the AD/AS diagram?
a. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially above potential GDP, while in years of resurgent economic growth the equilibrium will typically be close to potential GDP. b. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially below potential GDP, while in years of resurgent economic growth the equilibrium will typically be above potential GDP. c. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially below potential GDP, while in years of resurgent economic growth the equilibrium will typically be close to potential GDP. d. Recessions are illustrated in the AD/AS diagram when the equilibrium level of real GDP is substantially above potential GDP, while in years of resurgent economic growth the equilibrium will typically be below potential GDP.
Infant industry protection can be justified in theory by:
A. both the "learning by doing" argument and the existence of economies of scale. B. neither the "learning by doing" argument nor the existence of economies of scale. C. the existence of economies of scale but not by the "learning by doing" argument. D. the "learning by doing" argument but not by the existence of economies of scale.
Which of the following firms have no market power?
A. clothing companies B. fast food chains such as McDonald's C. theme parks D. gold panners during the gold rush