Using a broad definition, a firm would have a monopoly if
A) it produced a product that has no close substitutes.
B) it does not have to collude with any other producer to earn an economic profit.
C) it can make decisions regarding price and output without violating antitrust laws.
D) there is no other firm selling a substitute for its product close enough that its economic profits are competed away in the long run.
D
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According to the saving and investment equation, if net foreign investment rises by $60 million,
A) domestic investment will rise by $60 million. B) private saving will fall by $60 million. C) national saving will fall by $60 million. D) national saving will increase by $60 million.
Ceteris paribus, a rise in interest rates in the United States will cause the yen price of the dollar in international exchange markets to ________. I.e., the dollar ________ in value against the yen
A) increase; depreciates B) decrease; depreciates C) decrease; appreciates D) increase; appreciates