If the natural monopoly shown in the figure above is unregulated, it will sell
A) 2 million units.
B) 3 million units.
C) 4 million units.
D) 5 million units.
A
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What is the basic criticism that economic theory levels against the movement to base wages on the "comparable worth" of jobs?
A) Markets, not employers, set wage rates for different jobs. B) There are no jobs that are inherently more suitable for women than for men. C) There is no way to compare the satisfactions that different people derive from a job. D) Wage rates determine the worth of workers to an employer by determining the number that will be hired. E) Wage rates will be set by supply and demand and cannot be changed by anything government does.
If a government imposes a quota on imports of a popular doll, the price of the doll in the country will ________ and the quantity purchased in the country will ________
A) rise; increase B) rise; decrease C) fall; increase D) fall; decrease
A bank with some monopoly power may be able to __________ the rate on its deposits and so __________ its net interest income
A) lower, lower B) lower, raise C) raise, lower D) raise, raise
Government debt and interest payments on that debt
a. are problems if they grow faster than GDP b. are unrelated in the short run c. are unrelated in the long run, but not in the short run d. generally grow faster than government spending e. contributed to the crisis experienced by the U.S. economy in the late 1990s