AutoCorp is a dealership that has a contract that prevents the main company from opening another dealership within a 30-mile radius. This is an example of:
A. a local monopoly.
B. branding.
C. a double markup.
D. an exclusive territory right.
Answer: D
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The money cost of a particular good will approximate its opportunity cost if
A. there are serious distortions in the market. B. the market functions well. C. there is much specialization in the market. D. nations are exploiting the law of comparative advantage.
Suppose that inventories were $80 billion in 2012 and $70 billion in 2013. In 2013, national income accountants would ________.
A. subtract $75 billion (= $150/2) from other elements of investment in calculating total investment B. add $10 billion to other elements of investment in calculating total investment C. add $75 billion (= $150/2) to other elements of investment in calculating total investment D. subtract $10 billion from other elements of investment in calculating total investment
When the Fed lowers the discount rate, it makes it:
A. cheaper for banks to borrow from each other. B. cheaper for banks to obtain additional reserves by borrowing from the Fed. C. more difficult for banks to accept deposits. D. more difficult for banks to extend loans.
The long-run aggregate supply curve assumes that
A. there is no government purchasing of goods and services. B. all factors of production are fully employed. C. the unemployment rate is more than 9 percent. D. only laborers are fully employed.