Monopolies are characterized by all of the following, except one. Which is the exception?
a. a downward-sloping demand curve
b. potential for long-run profits
c. a perfectly elastic demand curve
d. barriers to entry
e. no close substitutes for the good produced
C
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Which of the following is a public good?
a. railroads b. genetic diversity c. a space station d. military aircraft e. commercial aircraft
Economists found evidence of discrimination in each of the following markets except
a. 1960s baseball games b. baseball cards c. live basketball games in the 1980s d. current era baseball games
If velocity remains constant, which of the following examples would cause deflation?
a. Money supply increases by 9 percent; real GDP increases by 4 percent. b. Money supply increases by 6 percent; real GDP increases by 8 percent. c. Money supply increases by 3 percent; real GDP increases by 2 percent. d. Money supply increases by 8 percent; real GDP increases by 8 percent.
A fall in inventories is synonymous with ________ investment
A) negative fixed B) positive fixed C) positive inventory D) negative inventory