The key feature of monopolistic competition is
A) interdependence of the firms.
B) lack of advertisement.
C) product differentiation.
D) the small number of firms in the industry.
C
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Real GDP is $13 trillion and aggregate planned expenditure is $14 trillion. As a result, unplanned inventory change is ________ and real GDP ________
A) negative; decreases B) positive; increases C) negative; increases D) positive; decreases E) negative; does not change
Consider the following: The relative price of hamburgers this year has
A) increased. B) decreased. C) stayed the same. D) Not enough information has been given to calculate an answer.
Which of the following is in charge of U.S. aid to foreign countries?
a. International Monetary Fund (IMF) b. Agency for International Development (AID) c. New International Economic Order (NIEO) d. World Bank
Which of the following may transform an industry from oligopoly to monopolistic competition?
A. Acquisition B. Exit C. Entry D. Takeover