Monopolies are always large firms with great economies of scale
a. True
b. False
Indicate whether the statement is true or false
False
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What is the distinction between gross investment and net investment?
What will be an ideal response?
Proponents of passive policy making believe that
A) the existence of time lags makes active policy ineffective or even procyclical. B) time lags do not exist so the economy will adjust too rapidly with active policy. C) government should not follow any particular policy. D) fiscal policy is always better than monetary policy in stabilizing the economy.
Which of the following is incorrect? During the Great Recession U.S:
a. Real GDP fell. b. Unemployment rose. c. Monetary base fell. d. Inflation fell. e. All of the above are correct.
What is the price elasticity of demand at any point on a perfectly elastic demand curve?