A) $600
B) $800
C) $350
D) $700
A similarity between monopoly and monopolistic competition is that in both market structures
a. strategic interactions among sellers are important.
b. there are a small number of sellers.
c. sellers are price makers rather than price takers.
d. there are only a few buyers but many sellers.
c
Economics
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Which of the following statements is true?
A) Corporations can issue stocks and bonds, while proprietorships cannot. B) Proprietorships have limited liability while corporations have unlimited liability. C) Corporations have one owner, while proprietorships have many owners. D) Corporations face fewer taxes than do proprietorships.
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Consider the following: Farmer Jones bought seed and fertilizer for $100. He grew wheat that he sold to the Acme Bread Company for $200. Acme Bread produced and sold bread to the ABC Grocery Store for $250. Consumers bought the bread from the grocery for $350. How much was added to the GDP?
Economics
The tax interaction effect is the _________ in excess burden in the labor market stemming from the _______ in real wages caused by a Pigouvian tax.
A. increase; increase B. reduce; reduction C. increase; reduction D. reduction; increase
Economics
In order to assess the relationship between the real exchange rate and total exports for any nation, one must construct a real effective exchange rate that measures:
a. a composite of each trading partner's real exchange rate change weighted by the share of trade. b. the exchange rate that would exist with no inflation and balanced trade. c. the average of all nominal exchange rates since we assume no inflation. d. nominal trade adjusted for inflation.
Economics