The sales revenue a seller receives from the sale of an additional unit of goods is called the marginal benefit
Indicate whether the statement is true or false
TRUE
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A monopoly is a market with
A) many suppliers each producing an identical product. B) no barriers to entry. C) many substitutes. D) one supplier. E) many suppliers each producing a slightly different product.
An automatic stabilizer is a feature of the economy that
a. makes prices "sticky." b. reduces its sensitivity to shocks. c. maximizes its volatility. d. automatically reduces recessionary trends.
If the price index last year was 100 and today it is 104, what is the inflation rate over this period?
(a) -4%; (b) 1.4%; (c) 4%; (d) 40%.
The liquidity of money refers to
A) the amount of gold it is backed by. B) how quickly it can be disposed of without high transaction costs. C) asymmetric information. D) the standard of deferred payments and how quickly those payments can be made.