The barrier to entry protecting cable companies is primarily
A. ownership of a scarce factor of production.
B. network effects.
C. economies of scale.
D. patents.
Answer: C
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Use the following supply and demand graph for product X to answer the question below. 
If there are positive externalities from the consumption of product X, then the socially optimal demand curve would be
A. an upward-sloping line. B. to the left of line D on the graph. C. at the position of line D on the graph. D. to the right of line D on the graph.
If the quantity theory of money holds, then in an economy,
A) inflation = growth rate of money supply - growth rate of real GDP. B) inflation = growth rate of money supply + growth rate of real GDP. C) inflation = growth rate of money supply - growth rate of nominal GDP. D) inflation = growth rate of money supply + growth rate of nominal GDP.
Which of the following is not a factor in the equation of exchange?
A) Money velocity B) Money supply C) The price level D) Nominal income
A vertical long-run aggregate supply curve indicates that
a. an increase in the price level will not expand an economy's output capacity in the long run. b. outputs greater than the long-run supply constraint cannot be achieved. c. an increase in the price level will permit the economy to achieve a higher level of output. d. an increase in the price level will promote technological change and more rapid economic growth.