Which of the following is not a characteristic of perfect competition?
A. Firms and consumers all have perfect information about the good and market.
B. Sellers can enter the market easily.
C. All goods sold are identical.
D. All consumers have identical individual demand curves.
Answer: D
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Changes in which of the following do NOT affect the natural unemployment rate?
A) the quantity of money B) the minimum wage C) unemployment benefits D) structural change E) the birth rate or other demographic data
State and briefly explain whether or not the empirical evidence generally supports the belief that there is a fixed trade-off between unemployment and inflation, such that monetary policymakers can achieve the combination they prefer
What will be an ideal response?
The long-run aggregate supply curve is determined by all of the following EXCEPT
A. technology. B. aggregate demand. C. the amount of resources that exist in the economy. D. human capital.
Refer to the above table. The total change in income resulting from the initial change in investment will be:
Answer the following question based on the table below which illustrates the multiplier process resulting from an autonomous increase in investment by $5.
A. $5
B. $10
C. $15
D. $20