Monopolistic competitors have _______ rivals who produce _________ goods and services.
A. no; identical
B. many; identical
C. many; close substitute
D. None of the choices are correct.
C. many; close substitute
You might also like to view...
Why is the long-run aggregate supply curve a vertical line?
A) At that level of real GDP, the production costs are at their lowest level. B) At that level of real GDP, production costs have fully adjusted to price changes. C) At that level of real GDP, the unemployment rate is 0 percent. D) At that level of real GDP, the inflation rate is 0 percent.
________ is a statistical technique used to isolate the individual effects of a number of factors on a single outcome
Fill in the blank(s) with correct word
The best weather in a decade has given Australia a bumper wheat crop. Australia is a small open economy. Based on this information alone, you would expect that
A) desired investment would decrease. B) desired investment would increase. C) the current account would increase. D) the current account would decrease.
Money expansions are dependent on some key assumptions. Which of the following is not one of those assumptions?
a. banks let reserves sit idle b. borrowers do something with the money the borrow c. people do not choose to increase their cash holdings d. all of the above are assumptions of money expansion