Oligopoly is characterized by a few sellers offering similar products, whereas monopolistic competition is characterized by many sellers offering differentiated products
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The Phillips curve illustrates the relationship between
a. change in the money supply and change in unemployment. b. tax rates and tax revenues. c. the equilibrium level of income and the employment rate. d. inflation and unemployment.
The rise in average living standards experienced by most industrialized countries:
A. has been more rapid since 1950 than before 1950. B. has been continuous over the course of human history. C. was more rapid before 1870 than after 1870. D. has resulted primarily from an increase in population worldwide.
When the actual reserve/deposit ratio exceeds the desired reserve/deposit ratio banks:
A. stop making loans. B. make more loans. C. do nothing because this is a profitable situation. D. send the extra reserves to the central bank.
What is the difference between the Keynesian and rational expectations theories concerning the success of stabilization policy?
What will be an ideal response?