A monopoly is a firm that is the only seller of a good or service that does not have
A) a patent.
B) a close complement.
C) a barrier to entry.
D) a close substitute.
Answer: D
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Bob just graduated from college and has just landed his first job with a local accounting firm that will start in three months. Bob plans to use that time to find a place to live, and adjust to the new area. Bob would be considered:
A. frictionally unemployed. B. employed. C. structurally unemployed. D. Bob is not in the labor force.
Which of the following is correct?
a. Union membership in the United States peaked in the 1940s and 1950s. b. Unions play a larger role in the United States than in European countries such as Belgium, France, and Germany. c. Because of the popularity of unions, most workers in the United States discuss their wages, benefits, and working conditions with their employers as a group. d. Collective bargaining is the process by which unions negotiate membership dues with the National Labor Relations Board.
Our balance on current account was about minus $_________ billion in 2009.
A. 300 B. 420 C. 540 D. 660
In the Internet search market:
A. Yahoo, Bing, and Google have roughly equal market shares. B. the Herfindahl index value is 10,000. C. Google holds about 70 percent of the market, while Bing and Yahoo together comprise about 28 percent. D. government subsidies ensure that search engines are provided at no cost to all Internet users.