Which of the following statements is TRUE about the price that a monopolist charges?
A) The price is the same as the price that would be charged if there was perfect competition.
B) The difference between the price charged by a monopolist and a perfect competitor is due to differences in costs.
C) The value that society places on the last unit produced in a monopoly is greater than its cost.
D) Too much of the good is being produced in a competitive market and not enough is being produced in a monopoly. Due to the way that prices are set.
Answer: C
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An economy is better off with an increase in the stock of capital
Indicate whether the statement is true or false
During the German hyperinflation of the 1920s, the large increases in the money supply were generated by the German government
A) significantly raising the required reserve ratio to reduce business loans. B) significantly lowering the required reserve ratio to enable German businesses to obtain loans. C) selling large quantities of government bonds to the central bank, the Reichsbank. D) printing large quantities of German marks.
Which of the following is an example of labor-market discrimination? You may assume that worker A and worker B have identical characteristics except for the ones listed. A firm offers a higher salary to worker A than worker B because worker A
a. has more experience. b. is willing to travel two weeks out of each month, whereas worker B will not travel more than three nights a month. c. has a special certification that directly relates to her job, whereas worker B does not. d. is a young blonde woman, whereas worker B is an older, gray-haired man.
which of the following is the incorrect statement
a. during a period of inflation, prices are always rising b. when inflation is decreasing, prices are always falling c. if the inflation is constant, prices are neither rising or falling d. a and b are incorrect e. b and c are incorrect