A monopolist is
a. one of a large number of small firms that produce a homogeneous good
b. one of a small number of large firms that produce a differentiated good
c. a single seller of a product with many close substitutes
d. one of a small number of large firms that produce a homogeneous good
e. a single seller of a product with no close substitutes
E
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The expectations theory suggests that
A) the yield curve should usually be upward-sloping. B) the yield curve should usually be downward-sloping. C) the slope of the yield curve depends on the expected future path of short-term rates. D) the slope of the yield curve reflects the risk premium incorporated into the yields on long-term bonds.
The federal government has the power to investigate and to try to block
a. only voluntary mergers between firms. b. only hostile takeovers. c. only friendly takeovers. d. any combining of the ownership of previously independent firms that increases concentration.
Which of the following is NOT a reason why the United States is able to produce such high levels of GDP?
A.) Abundant factors of production. B.) Labor-intensive production process. C.) High levels of investment in human capital. D.) High quality of capital.
When the price of sugar was "low," U.S. consumers spent a total of $3 billion annually on sugar consumption. When the price doubled, consumer expenditures remained at $3 billion annually. This data indicates that:
A. the demand for sugar is inelastic. B. the quantity demanded of sugar increased. C. the demand curve for sugar is upward sloping. D. None of the statements is correct.