1) In a "self-regulating" economy, inflationary and recessionary gaps: a

Subject:MarketingPrice:8.88 Bought18

Share With

1) In a "self-regulating" economy, inflationary and recessionary gaps:

a. Are eliminated by the timely actions of economic policymakers,

b. Are eliminated by forces internal to the economy, without government intervention,

c. Are the desirable results of microeconomic price adjustments,

d. Never occur.

2) One problem associated with a monopoly firm is that it:

a. Produces too little output but also charges a low price,

b. Produces too much output and charges too low a price,

c. Restricts output and charges a relatively higher price than a purely competitive industry,

d. Is just as good as a purely competitive firm in terms of output and price but leaves consumers with fewer choices.

3)Post one example of a monopoly.