Which of the following is definitely NOT an example of a natural monopoly?
A) local water distribution companies
B) urban rail services
C) local electric power and gas distribution companies
D) urban retail stores
D
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The cross elasticity between computers and software is
A) negative because they are substitutes. B) positive because they are substitutes. C) negative because they are complements. D) positive because they are complements. E) positive because they are normal goods.
Forward contracts are of limited usefulness to financial institutions because
A) of default risk. B) it is impossible to hedge risk. C) they are relatively inflexible. D) of interest-rate risk.
Using the principle of vertical equity, it is easy to argue in favor of _____
a. sumptuary taxation b. progressive taxation c. regressive taxation d. none of the above
Econometricians are economists who specialize in
a. descriptive or nontheoretical analysis b. economic behavioral characteristics of children's consumption c. the study of microeconomics d. the historical view of past economic problems e. quantitative economic research methods