Pure monopoly:
a. is characterized by a single supplier
b. is a market structure in which no close substitute products are available.
c. exists when entry and survival of potential competitors is extremely unlikely.
d. is characterized by all of the above.
d
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A typical American family sends about _____ percent of its budget on services.
A. 20 B. 32 C. 66 D. 70
The federal spending policies of the Great Depression were clearly expansionary and helped return the U.S. economy to the low levels of unemployment experienced during the 1920s
Indicate whether the statement is true or false
Foreign trade will have no impact on real GDP when
a. exports exceed imports. b. exports equal imports. c. imports exceed exports. d. exports equal zero.
A shortage is the same as an excess demand
a. True b. False Indicate whether the statement is true or false