In a monopolistic competitive industry, firms can try to differentiate their products by
A. creating optimal perceptions of the product.
B. choosing optimal locations from which the product is sold.
C. enhancing the intangible aspects of the product.
D. all of the above
Answer: D. all of the above
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Discretionary fiscal policy
A) may not have desired effects on real GDP because it leads to decreases in aggregate demand. B) may not have desired effects on real GDP because of the time lags. C) would have a larger effect on real GDP if the multiplier was smaller. D) may not have desired effects on real GDP because it leads to increases in aggregate demand.
Actual real GDP will be above potential GDP if
A) inflation is rising. B) firms are producing below capacity. C) firms are producing at capacity. D) firms are producing above capacity.
Some employers choose to discriminate as a means of ____ information costs by hiring workers from a similar background as those that were ____ productive in the past
a. increasing; more b. reducing; more c. increasing; less d. reducing; less
Elmer's Glue has captured the market for school glue. It is preferred by both students and parents alike. It takes very little capitalization to enter the market, but nobody succeeds in doing so. The glue clearly needs no patents or secret formulas. This type of market is called a(n)
A. monopolistic competition. B. pure or perfect competition. C. monopoly. D. oligopoly.