A market in which there are many sellers who sell differentiated products is called
A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.
B
You might also like to view...
Countries where investment is relatively
A) productive should be net exporters of currently available output. B) unproductive should be net importers of currently available output. C) unproductive should be net exporters of currently available output. D) unproductive should be net exporters of future available output. E) unproductive should focus on their internal balance.
Politicians often highlight the plight of a single individual as a reason to support a particular project or agenda. In this case, politicians are often engaged in
A) the Allais effect. B) the Byrd effect. C) framing. D) prospect theory.
Which of the following would necessarily increase the equilibrium interest rate?
a. The demand for and the supply of loanable funds shift right. b. The demand for and the supply of loanable funds shift left. c. The demand for loanable funds shifts right and the supply of loanable funds shifts left. d. The demand for loanable funds shifts left and the supply of loanable funds shifts right.
The data presented in the text shows that in the period from 1947-2013, real GDP in the United States has:
A. increased substantially. B. decreased in every year since 1947. C. decreased only in recent years. D. generally remained the same.