Few firms in the United States are monopolies because
A) when a firm earns profits, other firms will enter its market.
B) most products that firms produce have substitutes.
C) few firms experience economies of scale.
D) of antitrust laws.
A
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Describe the relationship between the Federal Reserve and the legislative and executive branches of the U.S. government
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In China, suppose that the price level was 100 in 2014, 110 in 2015, and 120 in 2016. Over these three years
A) the inflation rate accelerated. B) inflation did not occur. C) prices were stable. D) the inflation rate was positive.
Household consumption as a percentage of GDP in the United States is
A) less than that in other high-income countries. B) greater than that in low-income countries. C) equal to that in middle-income countries. D) greater than the average for countries around the world.
The short-run consumption curve may shift upward over the long run largely because
a. people become wealthier b. the marginal propensity to save increases c. the 45-degree line becomes a 90-degree line d. the demand curve for investment is upward sloping e. economic growth, although still positive, slows down