Most markets in the United States:
A. have some degree of competitiveness, but are not perfectly competitive.
B. have very few competitive features and so are regulated by the government.
C. are monopolies.
D. are perfectly competitive.
A. have some degree of competitiveness, but are not perfectly competitive.
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When the marginal propensity to consume (MPC) increases
A) the average propensity to save remains unchanged. B) the multiplier remains unchanged. C) the multiplier decreases. D) the multiplier increases.
Which of the following is a true statement regarding the economic growth model's predictions and how it actually affects the real world?
A) The growth model predicts that poor countries will catch up with rich countries, but lower-income industrialized countries are not catching up to higher-income industrialized countries as a group. B) The growth model predicts that poor countries should catch up with rich countries, but developing countries are not catching up to lower-income industrialized countries as a group. C) The growth model predicts that poor countries will catch up with rich countries, and this is what we observe across all developmental categories of countries. D) The growth model predicts that poor countries will never catch up with rich countries, but lower-income industrialized countries are catching up to higher-income industrialized countries as a group.
At the current price of a good Al's consumer surplus equals 15 and Ben's consumer surplus equals 15. By using two-part pricing a monopolist could increase his profit by
A) 8. B) 16. C) 15. D) 30.
Which of the following products would most likely be produced in a monopolistically competitive market?
A) corn B) crude oil C) local water supply D) pizza