A monopolistically competitive firm influences market price by virtue of its size.
Answer the following statement true (T) or false (F)
False
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As the amount of inventories maintained by a firm increases:
A) its elasticity of supply increases. B) its elasticity of supply decreases. C) the elasticity of demand for its product increases. D) the elasticity of demand for its product decreases.
Productivity is ________
A) determined by central bank policy B) the combined effect of monetary and fiscal policy C) the residual component of the production function D) driven by changes in the rate of growth of output
Standardized goods and services refers to those that:
A. are interchangeable. B. have close substitutes. C. are unique. D. are regulated by the government.
Last year a country's real GDP grew by 4%, it's inflation rate was 2.5%, and it's government budget deficit was about $250 billion. It's debt to GDP ratio was unchanged. About what was it's debt at the start of last year?
a. 16.7 trillion b. 10.0 trillion c. 6.25 trillion d. 3.85 trillion