In a market where firms are successful in convincing their customers that their product is different from their competitors' product but otherwise have no barriers to entry would be best characterized by
A) monopolistic competition.
B) a monopoly.
C) perfect competition.
D) an oligopoly market.
A
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Behavioral game theory assumes
A) people act rationally. B) people are subject to biases that cause them to act irrationally. C) that people behave differently when playing games than when "playing for real." D) people optimize using all available information.
Compare and contrast the recent recession with the Great Depression.
What will be an ideal response?
The inflation rate reported in the news is usually calculated from the GDP deflator rather than the consumer price index
a. True b. False Indicate whether the statement is true or false
In an open-market purchase the Federal Reserve ________ government bonds from the public and the supply of bank reserves ________.
A. sells; decreases B. buys; increases C. buys; decreases D. sells; increases