Compared to perfect competition, monopoly in the long run
A. restricts output.
B. charges a higher price.
C. produces at less than minimum average cost.
D. All of these responses are correct.
Answer: D
Economics
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Recessions are typically
A) unintended and disruptive. B) easy to predict in advance. C) the result of non-monetary disturbances. D) events economists have a hard time explaining.
Economics
In the above figure, if the interest rate is 4 percent, people
A) sell bonds so as to convert them into money. B) buy bonds so as to have a better store of value. C) petition the Fed to tighten the quantity of money. D) buy stocks, because stocks are more liquid than currency.
Economics