Which of the following goods is the best example of a natural monopoly?
A) distribution of electricity
B) diamonds
C) first-class mail
D) a patented good
E) blouses
A
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From the classical perspective, an increase in unemployment during a recession represents
A) voluntary unemployment. B) a roughly equal mix of voluntary and involuntary unemployment. C) involuntary unemployment. D) a decrease in the number of discouraged workers in an economy.
The Solo Coal Mine is the only employer in the small town of Way out there. The market supply of miners is Qs = 0.02W - 200 and Qd = 500 - 0.02W, where W is the annual wage of a coal miner and Q is the number of coal miners. What is the profit maximizing number of coal miners for the coal mine to hire?
A. 100 B. 150 C. 50 D. 233.33
Starting from an initial long-run equilibrium, under the rational expectations hypothesis, an anticipated shift to a more expansionary policy will increase:
a. prices but not real output in the short run. b. real output but not prices in the short run. c. real output in the long run but not in the short run. d. real output in both the long run and the short run.
Tax laws do not give preferential treatment to some kinds of retirement saving
a. True b. False Indicate whether the statement is true or false