A monopoly is an industry with
A. a single firm in which the entry of new firms is blocked.
B. a small number of firms each large enough to impact the market price of its output.
C. many firms each able to differentiate their product.
D. many firms each too small to impact the market price of its output.
Answer: A
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Which statement most accurately captures the state of money today?
A) Money today includes currency, bank deposits and checks. B) Money today includes currency and checks but not bank deposits. C) Money today includes bank deposits and currency but not checks. D) Money today includes bank deposits and checks but not currency. E) Money today includes checks and credit cards.
If the social benefit is greater than the private benefit in a particular market, then the socially optimal equilibrium will be at a quantity:
A. greater than the private level. B. equal to the private level. C. less than the private level. D. greater than or less than the private level, depending on the size of the external costs.
The poverty line
A. is shifted downward from year-to-year. B. is constant. C. is raised from year-to-year. D. is tied to the unemployment rate.
When the expected dollar-euro exchange rates (E^e $/euro) rises, the foreign expected dollar return curve shifts
A) downward B) upward C) not at all D) not enough information is provided