How does monopoly arise?
What will be an ideal response?
Monopoly arises if a firm is selling a good that has no close substitutes and if the firm is protected from competition by a barrier to entry. As a result, a monopoly is the only firm in its market.
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There is an externality present only when
A) private costs equal social benefits. B) private benefits equal social benefits. C) private costs or benefits diverge from social costs or benefits. D) private costs equal social costs.
In-kind assistance programs are direct transfers of goods and services to the poor
Indicate whether the statement is true or false
Which of the following is correct?
a. Well designed tax cuts can increase investment which fluctuates more than consumption over the business cycle. b. Well designed tax cuts can increase investment but it fluctuates less than consumption over the business cycle. c. Tax cuts have little effect on investment which fluctuate more than consumption over the business cycle. d. Tax cuts have little effect on investment but it fluctuates less than consumption over the business cycle
____________ also known as cash cards are computerized banking transactions where money is removed directly from your account
a. Credit cards
b. Debit cards
c. Smart cards
d. Access cards