The demand curve for a monopolistic competitor is likely to be flatter than that of a monopolist.
Answer the following statement true (T) or false (F)
True
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Household consumption primarily depends on:
A) disposable income. B) the interest rate. C) marginal propensity to import. D) credit card debt.
Western expansion put whites on a collision course with the indigenous people of North America. The major policy of the U.S. government was to
(a) basically ignore them as a separate group and allow them to be naturally assimilated into American life over time. (b) confine them to reservations where they could practice their tribal customs, they could be completely separate from white society with no interference in their affairs, and they could continue to develop and grow their customs and norms based on traditional ways. (c) enslave them as a source of labor for the plantation system. (d) "civilize" them by replacing tribal social structures and values with those more appropriate to white society, such as individual ownership of property, competitive striving for material gain, farming activities for Native American men and housekeeping for Native American women and the replacement of native languages with English among children.
In general, economists are critical of monopoly where there is (are):
A. no natural monopoly. B. persistent economies of scale. C. only a few firms. D. a natural monopoly.
Prisoners in World War II POW camps traded products for other products, a process referred to as:
A. barter. B. rationing. C. central planning. D. advantage exchange.