The primary benefit of voluntary trade is that
a. it allows developers to put land to better use through eminent domain.
b. the prices of goods and services rise.
c. people on both sides of the trade are made better off.
d. it increases tax revenue.
c. people on both sides of the trade are made better off.
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For a single-price monopolist to sell one more unit of a good, it must
A) lower the price on just the last unit sold. B) lower the price on all units sold. C) raise the price on just the last unit sold. D) raise the price on all units sold.
A natural monopoly occurs when a single firm can produce the entire output of the market at a lower average cost than could many firms
a. True b. False Indicate whether the statement is true or false
If the nominal interest rate is 8 percent and the rate of inflation is 3 percent, then the real interest rate is
a. -5 percent. b. 1.67 percent. c. 5 percent. d. 11 percent.
The manufacturer of Beanie Baby dolls used quarterly price data for 2005 I - 2013 IV (t = 1, ..., 36) and the regression equationPt = a + bt + c1D1t + c2D2t + c3D3tto forecast doll prices in the year 2014. Pt is the quarterly price of dolls, and D1t, D2t, and D3t are dummy variables for quarters I, II, and III, respectively. 
At the 2 percent level of statistical significance, the estimation results indicate that price in the ________ quarter is significantly higher than in any other quarter.
A. 1st B. 2nd C. 3rd D. 4th