Which statement is true?
A. The monopolist usually operates at the minimum point of its ATC.
B. Nearly all monopolies are very large firms.
C. Most natural monopolies produce agricultural products or natural resources.
D. None of these statements are true.
D. None of these statements are true.
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Refer to Figure 11.1. Assume the economy is in equilibrium at 1 = 0. Other things equal, a surge in household wealth will result in a movement from point ________ to point ________
A) A; B B) B; A C) A; C D) A; D
Banks serve the role of a financial intermediary; however, banks cannot survive in the long term if they are paying out more in ___________ to depositors than they are receiving from borrowers.
a. interest b. revenue c. taxes d. income
When a region can produce a good or service at a lower opportunity cost than others, it is said to have a(n) ______ advantage.
a. comparative b. productivity c. specialized d. absolute
If the CPI is rising more slowly than your nominal income,
a. then there is no inflation in the economy b. your real income is decreasing. c. your real income is increasing. d. your real income remains the same.