If coffee and tea are substitutes, then an increase in the price of coffee will result in an increase in the demand for tea.
Answer the following statement true (T) or false (F)
True
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The natural rate of unemployment is equal to the unemployment rate when there is only:
A. structural and frictional unemployment. B. frictional unemployment. C. cyclical unemployment. D. structural and cyclical unemployment.
Melanie is a reporter. She is writing an article on a certain issue. She, however, interviewed only those people who have the same opinion as she does on that particular issue. This is an example of a(n) ________ bias
A) attenuation B) distinction C) attentional D) confirmation
Compared to many other countries, the United States has: a. fewer banks, with assets distributed more evenly
b. fewer commercial banks, with assets concentrated in a few large banks. c. more banks, with assets concentrated in a few large banks. d. more commercial banks, with deposits widely distributed among the banks. e. more commercial banks, with deposits concentrated in a few large banks.
What are the advantages and disadvantages of resource allocation under monopolistic competition compared to perfect competition?