Monopolistic competition differs from perfect competition only in the number of firms participating in the market
a. True
b. False
Indicate whether the statement is true or false
False
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From 1860 to 1910, miles of railroad track in operation increased from roughly ____ miles to _____ miles.
a. 1,000; 75,000 b. 10,000; 50,000 c. 30,000; 250,000 d. 75,000; 500,000
Consider two economies: A and B. The nominal interest rate is the same in both economies, but the rate of inflation is higher in economy B. Which of the following statements will then be true?
A) The real interest rate will be the same in both economies. B) The real interest rate will be higher in economy B. C) The real interest rate will be higher in economy A. D) Whether the real interest rate is higher in economy A or B will depend on the number of borrowers in both economies.
A friend of yours receives a government voucher for an apartment in a public housing project. This apartment represents
A) a government-sponsored good. B) the free-rider problem. C) a public good. D) the drop-in-the-bucket problem.
Suppose there are only 2 nations, Atlantis and Pacifica, and only two goods, surfboards and kayaks. If Atlantis produces only surfboards, it can make 50 per day. If Atlantis produces only kayaks, it can make 75 per day. If Pacifica produces only surfboards, it can make 75 per day. If Pacifica produces only kayaks, it can make 75 per day. After trade begins, ________ will specialize in the production of surfboards and ________ will specialize in the production of kayaks.
A. Atlantis; Atlantis B. Pacifica; Pacifica C. Atlantis; Pacifica D. Pacifica; Atlantis