After the American Revolution concluded, what did the English do?
(a) They withdrew all investments in colonial America.
(b) They continued investing in colonial America.
(c) They discouraged individuals in other countries from investing in colonial America.
(d) They did none of the above.
(b)
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Michigan Radio is the state's most listened-to public radio service, attracting approximately 400,000 listeners each week. How would Michigan public radio best be classified?
A) as a private good B) as a common resource C) as a natural monopoly D) as a public good
If it costs $8 to produce a certain product and the product sells for $9, then
a. the markup is approximately 11.1 percent b. the market for this product must be monopolistic c. the markup is $1 d. firms in this industry should shut down to minimize their losses e. the revenue gained from the last unit produced is $1
The consensus among economists who consider monopoly and oligopoly to be both inevitable and undesirable is, when confronted with a monopolized industry, to
a. look the other way b. allow government regulation of the industry c. withhold patent privileges d. engage in a laissez-faire strategy e. purchase controlling stock in the monopoly
The restrictive monetary policy followed by the Fed in the early 1980s
a. reduced both unemployment and inflation. b. reduced inflation significantly, but at the cost of a severe recession. c. reduced unemployment significantly, but at the cost of higher inflation. d. raised both unemployment and inflation.