For a market to be characterized by monopoly, there must be
A. freedom of entry and exit.
B. a single seller.
C. indistinguishable products being sold.
D. a large number of firms with no one able to influence price.
Answer: B
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A movie theatre raises its admission prices by 10%, which results in a 10% reduction in the quantity of tickets demanded. The demand curve facing this firm is: a. elastic
b. inelastic. c. unit elastic. d. unit inelastic.
The federal funds rate is the interest rate:
a. On U.S. interbank loans. b. The Federal Reserve changes banks that borrow from it. c. The World Bank charges to central banks. d. Central banks charge individuals. e. U.S. financial institutions pay to their best (i.e., largest) depositors.
NAFTA is believed to have __________ manufacturing productivity, especially in the maquiladora plants.
a. raised b. lowered c. had no effect on d. greatly hindered
Refer to the information provided in Figure 8.8 below to answer the question(s) that follow. 
Figure 8.8 Refer to Figure 8.8. This farmer's profit-maximizing level of output is ________ units of output.
A. 200 B. 700 C. 1,000 D. 1,400