If expectations are formed adaptively, then people
A) use more information than just past data on a single variable to form their expectations of that variable.
B) often change their expectations quickly when faced with new information.
C) use only the information from past data on a single variable to form their expectations of that variable.
D) never change their expectations once they have been made.
C
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Natural monopolies result from ________.
A. control over an essential natural resource B. pricing strategies C. patents and copyrights D. extensive economies of scale in production
What does a current account deficit do that is positive for a nation?
What will be an ideal response?
Typically, oligopolistic industries have a high ______.
a. number of sellers b. level of perfect competition c. number of monopolies d. rate of profit
If a monopolist wants to increase the amount it sells, it
A. must lower the cost of production. B. must accept lower profits. C. will keep the price the same. D. must lower the price on all units.