With a monopolist's outcome, consumer surplus is:
A. higher than that of a competitive market.
B. lower than that of a competitive market.
C. the same as that of a competitive market.
D. Any of these is possible.
B. lower than that of a competitive market.
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Which of the following is missing from the circular flow model depicted in the textbook?
a. businesses b. factors of production c. banks d. what households spend their money on e. goods and services
Who would receive payments from the government under a negative income tax system?
a. everyone b. only people with no earnings c. only people with incomes below a certain level d. only people with incomes above a certain level
Net exports are positive when
A. a nation's exports of goods and services exceed its imports. B. a nation's imports of goods and services exceed its exports. C. a nation's exports of goods exceeds its imports. D. a nation's exports of services exceeds its imports.
Assuming all excess reserves are loaned out, if the reserve ratio is 3.33 percent, the money multiplier will be equal to:
A. 0.67. B. 3.33. C. 6.67. D. 30.