Most of the buying and selling in primary markets:
A. is in the public view.
B. is highly transparent and closely monitored by the SEC.
C. is done by the Federal Reserve.
D. involve an investment bank.
Answer: D
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Compared to a competitive market, a firm that has a monopsony in a labor market would
A) hire fewer workers and pay higher wages. B) hire more workers and pay higher wages. C) hire more workers and pay lower wages. D) hire fewer workers and pay lower wages.
Which of the following statements about monopoly is false?
A) A single firm serves the market. B) There are no close substitutes for the monopolist's output. C) There are usually significant barriers to entry. D) Because there is a single firm serving the entire market, the monopolist can charge whatever price it wants to for its output.