Which of the following is an example of natural monopoly?
A) cellular phone companies in a large city
B) local water utility companies
C) major league sports franchises in the largest cities
D) All of the above are natural monopolies.
B
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Which of the following is in charge of the buying and selling of government securities by the Fed?
a. The president. b. The Federal Open Market Committee. c. The Congress. d. None of these.
Which of the following correctly describes the macroeconomic long run?
a. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied equals the potential output level, and aggregate demand equals aggregate supply. b. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied exceeds or falls short of the potential output level, and aggregate demand equals aggregate supply. c. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied equals the potential output level, and aggregate demand exceeds or falls short of aggregate supply. d. A price level and level of real GDP where price expectations are correct, aggregate quantity supplied exceeds or falls short of the potential output level, and aggregate demand exceeds or falls short of aggregate supply.