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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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
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)