Monopolies have ____ substitutes

A) many
B) few
C) no
D) several but less than 10


C

Economics

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What is one specific economic situation that a balanced budget amendment would create?

A) It would prevent deficits during peacetime. B) It would curtail inflation. C) It would forbid budget surpluses. D) It would prevent a recession.

Economics

A weakness in the classical economic claim that a recession is caused by a decrease in labor demand curve is

a. that labor demand never changes b. that labor demand increases during a recession c. that labor supply decreases during a recession d. the confusion between a shift of the labor demand curve and a movement along that curve e. the impossibility in the classical model of total spending ever being deficient

Economics

A seller's opportunity cost measures the

a. value of everything she must give up to produce a good. b. amount she is paid for a good minus her cost of providing it. c. consumer surplus. d. out of pocket expenses to produce a good but not the value of her time.

Economics

When a single firm can supply a product to an entire market at a lower cost than could two or more firms, the industry is called a

a. resource industry. b. exclusive industry. c. government monopoly. d. natural monopoly.

Economics