Assuming a constant cost industry, consumer surplus would be greater under monopoly than if the industry were perfectly competitive
a. True
b. False
B
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Aggregate expenditure is total
A. value added in the economy. B. income of households, businesses, governments, and foreigners. C. spending on final goods and services. D. revenue from the sale of goods and services.
The general set of rights to own private property and exchange goods, services, and financial assets with minimal government interference is defined as
A) capitalism. B) market socialism. C) economic freedom. D) economic privilege.
The market value of a good or service is the:
A. price at which it is bought and sold. B. government's valuation using the CPI. C. price at which producers are willing to sell an output. D. None of these statements is true.
Borrowing VCU3 from an online company cause the nation's:
a. Monetary base to fall. b. M2 money supply to rise. c. M2 money multiplier to fall. d. Monetary base to remain the same.