Which of the following would most likely be a natural monopoly?
a. Gas utility company
b. Agricultural firm
c. Youth apparel company
d. Automotive manufacturer
a. Gas utility company
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Consider two alternative worlds: (i) the world works according the real business cycle model, and the central bank acts to stabilize the price level; (ii) the world works according to the New Keynesian sticky price model, and the central bank acts to
make the output gap zero. Which is correct? A) We would prefer to live in world (ii). B) We would prefer to live in world (i). C) The data cannot tell us whether we are living in world (i) or world (ii). D) in either world, the central bank is irrelevant.
Economies of scale can
A) result in an increasing cost industry. B) cause input prices to drop. C) prevent the entry of new firms into a market. D) reduce the rate of return which the firm may earn.
The poverty rate in 2008 was _________ the poverty rate in 1960.
A. much lower than B. a little lower than C. about the same as D. a little higher than
Which of the following is not included in M2?
a) coins b) gold c) savings accounts d) retail money market mutual funds e) overnight repurchase agreements