If the consumption of a good by one person reduces its consumption by others, then the good is
A. nonrivalrous in consumption.
B. rivalrous in consumption.
C. nonexcludable.
D. excludable.
E. b and d
Answer: B
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If a central bank engages in an unsterilized foreign-exchange intervention with the intention of raising the foreign-exchange value of its currency,
A) the central bank's holdings of international reserves will fall. B) the domestic money supply will rise. C) domestic interest rates will fall. D) it will buy foreign assets.
Models are used to describe cause-and-effect relationships.
Answer the following statement true (T) or false (F)
Which of the following statements about monopoly is not correct?
a. In order for a monopoly to persist, there must be barriers to the entry of other firms. b. When a monopolist increases production, the quantity effect will tend to increase total revenue and the price effect will tend to decrease total revenue. c. A monopolist can sell as much as it wants at whatever price it chooses. d. Because a monopoly has market power, it will charge a price higher than what would prevail under conditions of perfect competition
Which of the following statements can correctly be made about social regulation?I.Extensive social regulation may have an anticompetitive effect.II.The benefits of social regulation are easier to measure than are the costs of social regulation.
A. I only B. II only C. both I and II D. neither I nor II