A household ________ as long as the utility from the good's consumption is less than its market price.
A. will always buy a good
B. should never buy a good
C. will only buy a good
D. should never sell a good
Answer: B
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Monopolistic competition differs from perfect competition only in the number of firms participating in the market.
Answer the following statement true (T) or false (F)
The balance of payments consists of the
A) current account, capital account, and gold flows. B) current account, official reserve transactions account, and monetary account. C) current account, capital account, and official reserve transactions account. D) capital account, official reserve transactions account, and recent account.
An import quota taxes an import but does not set a limit on how much may be imported
a. True b. False
Government regulation of the prices and entry conditions in an industry is an example of
a. safety regulation b. economic regulation c. Herfindahl regulation d. antitrust regulation e. Social Security legislation