The product differentiation of firms in an industry is an indicator of the size distribution of firms.
Answer the following statement true (T) or false (F)
False
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Economic growth is usually defined as
A) the increase in output over time, as measured by real per capita Gross Domestic Product (GDP). B) the reduction in the real cost of necessities. C) the rate of increase in output divided by the increase in labor. D) the increase in input availability.
________ are financial securities that represent promises to repay a fixed amount of funds
A) Bonds B) Stocks C) Interest rates D) Mutual funds
A negative externality exists when
A. a person's or group's actions cause a benefit that is felt by others. B. a person's or group's actions cause a cost that is felt by others. C. market output is less than socially optimal output. D. a and c E. b and c
It is possible for one person to have an absolute advantage in something even if she has no comparative advantage in anything
a. True b. False