What is hyperinflation?
What will be an ideal response?
Hyperinflation refers to an inflation rate which exceeds 50 percent per month.
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In the context of the environment, the type of transactions costs that includes covering all the costs associated with the bargaining process, such as fees for attorneys, negotiators, and accountants, are called
A) search costs. B) collectivization costs. C) negotiation costs. D) monitoring and enforcement costs.
Which of the following is most necessary for a monopolist to survive in the long run?
A) a legal protection from entry B) a perfect product C) a brilliant Chief Operating Officer D) an excellent marketing campaign
If x causes y, then
a. x and y are inversely related b. y is a dependent variable c. other variables don't matter d. y must, in turn, cause x e. x and y are always in a direct relation to each other
When an industry is a natural monopoly,
a. it is characterized by constant returns to scale. b. it is characterized by diseconomies of scale. c. a larger number of firms may lead to a lower average cost. d. a larger number of firms will lead to a higher average cost.