Product differentiation exists in
A. monopolistic competition only.
B. monopolies only.
C. oligopolies only.
D. all market structures except perfect competition.
Answer: D
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Interest rates declined in 2007 . What happened to bond prices during this time?
a. They were unchanged. b. They increased. c. They decreased. d. Not enough data to answer.
In the short-run, a fall in demand results in _____ while in the long-run, a fall in demand results in ______
A. an increase in output and prices; a decline in output only B. a fall in prices and an increase in output; no change in output or prices C. a fall in prices only; and fall in output and prices D. a fall in output and prices; a fall in prices only
If real GDP rises, then so must nominal GDP.
Answer the following statement true (T) or false (F)
The multiplier can be expressed as the ratio of the change in Y over the change in I
a. True b. False Indicate whether the statement is true or false