Which of the following is not a basic characteristic of monopolistic competition?
A. The use of trademarks and brand names.
B. Recognized mutual interdependence.
C. Product differentiation.
D. A relatively large number of sellers.
Answer: B
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Which of the following is considered an advantage of a sole proprietorship?
A) easy to raise large sums of capital B) limited liability for owner C) profit taxed only once D) permits effective specialization
Why do the British supply pounds to the dollar-pound market?
a. To buy goods and services from American firms. b. To buy American assets. c. To buy stock in American firms on the London stock exchange. d. Both (a) and (b) are correct. e. None of the above.
Figure 17-10
Refer to . The amount of government revenue created by the tariff is
a.
B.
b.
E.
c.
D + F.
d.
B + D + E + F.
The emphasis by some economists on long-term outcomes is reminiscent of
A. Classical theory. B. Supply-side theory. C. Keynesian theory. D. None of the choices are correct.