A monopoly occurs when
A. Owners take on additional risk and earn huge profits.
B. Companies become greedy and raise the price of a good or service.
C. There is only one producer of a good or service.
D. There is only one buyer of a good or service.
Answer: C
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Exchange-rate targeting allows a central bank to ________, thus this will ________ the probability of policy developing a time-inconsistency problem
A) be governed by a policy rule; decrease B) follow discretionary policy; decrease C) be governed by a policy rule; increase D) follow discretionary policy; increase
Jessica’s workplace is collecting money for a lottery pool. Each employee can choose to contribute $50, with a 1 in 600,000 chance of winning $1 million. If Jessica chooses not to contribute to the lottery pool, she is probably experiencing:
A. positive framing. B. the endowment effect. C. loss aversion. D. status quo bias.
A move from M to N best represents a
A. change in quantity demanded.
B. change in demand.
C. increase in demand.
D. decrease in demand.
Refer to the accompanying table below. According to the Cost-Benefit Principle, how many units of this activity should be carried out?Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. 4 B. 2 C. 3 D. 5