Which of the following is NOT a characteristic of pure monopoly?
A) many sellers
B) considerable price setting ability
C) restricted ability to enter market
D) long-run economic profits are possible
Answer: A
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Spending a lot on advertising:
A. can act as a credible signal to consumers of high-quality products. B. does not serve as a credible signal to consumers, since any producer can do it. C. can act as a credible signal to producers to create high quality substitutes. D. can act as a credible signal to consumers of low-quality products.
To answer the question, refer to the following table showing a demand schedule: 
If price falls from $150 to $100,
A. an arrow representing the price effect points down and is shorter than an arrow for the quantity effect. B. arrows representing the price and quantity effects both point down. C. total revenue moves in the same direction as the arrow representing the price effect. D. the arrow representing the price effect points down and the arrow representing the quantity effect points up. E. both c and d
When governments in developing countries run budget deficits, central banks in these countries typically:
A. sell the bonds issued by the government and increase the money supply in the process. B. buy the bonds issued by the government and increase the money supply in the process. C. sell the bonds issued by the government and decrease the money supply in the process. D. buy the bonds issued by the government and decrease the money supply in the process.
Buying a diversified mutual stock fund allows you to
A) completely avoid all types of risk. B) avoid only random, unsystematic risk. C) avoid only systematic risk. D) avoid risk only when all the stock prices are perfectly correlated.