To be a natural monopoly, a firm must
a. control an essential natural resource input.
b. be very large.
c. have a continuously falling average cost curve as output rises.
d. have falling average costs over a substantial range of total market demand.
d
Economics
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Which of the following serves as the central banker for private banks in the United States?
A. The 12 regional Federal Reserve banks. B. The Executive Branch of government. C. The Board of Governors of the Federal Reserve System. D. The Fed Open Market Committee.
Economics
Everything else held constant, a decrease in the currency ratio will mean ________ in the M1 money multiplier and ________ in the M2 money multiplier
A) an increase; an increase B) an increase; a decrease C) a decrease; an increase D) a decrease; a decrease
Economics