In monopolistically competitive market structure, because each good sold in the market is ____, each firm is considered a ____
a. slightly different; price maker
b. slightly different; price taker
c. the same; price maker
d. the same; price taker
a
You might also like to view...
Suppose an economy's exchange rate system is the gold standard and vast tracks of gold are discovered, as is what happened in the United States in 1849. If the economy is at full employment, what should this discovery do?
A) It should lower the money supply and cause deflation. B) It should raise the money supply and cause inflation. C) It should raise the money supply and cause disinflation. D) It should raise the money supply but have no impact on the price level. E) it should not change the money supply.
Capital budgeting projects include all of the following except
A) the purchase of a six-month treasury bill. B) the expansion of a plant. C) the development of a new product. D) the replacement of a piece of equipment.
A tariff:
A. is a tax on imports. B. is a tax on exports. C. directly limits the total quantity of a good that can be imported. D. directly limits the total quantity of a good that can be exported.
If the real U.S. GDP was $10 trillion in 2000 and the U.S. population was 280 million, the per capita real GDP would have been closest to
A. $35,714 per person. B. $28,000 per person. C. $2,800 per person. D. $5,000 per person.