A monopoly is a firm that produces a good or service for which no close substitute exists
Indicate whether the statement is true or false
TRUE
Economics
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Four possibilities are equally likely and have payoffs of $2, $4, $6, and $8 . The expected value is:
a. $5 b. $6 c. $7 d. $8
Economics
If the natural unemployment rate is 7 percent and the current unemployment rate is 5 percent, then the economy is
A) producing a level of Real GDP that is greater than the level of natural Real GDP. B) in a recessionary gap. C) producing a level of Real GDP that is less than the level of natural Real GDP. D) a and b E) b and c
Economics