________ a large number of firms competing by making similar but slightly different products
A) Monopoly requires
B) Perfect competition requires
C) Monopolistic competition requires
D) Oligopoly requires
E) Both perfect competition and monopolistic competition require
C
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Which is most likely to be observed in a community where price ceilings are imposed on residential rents?
A. Those whose needs for housing are most urgent will be able to obtain the space they want. B. Poor people will be able to find adequate housing. C. Homeowners will reduce their own use of housing space, making more available to others. D. People moving into the community will have difficulty locating residential space to rent.
An imaginary situation in which people have no knowledge of what their place in society is to be is?
A. first position B. start position C. original position D. pole position
The increase in the proportion of women in the labor force causes GDP to _____ the growth in economic well-being because _____.
A. overstate; some of the services that women formerly provided in the home are now purchased in the market B. overstate; the services that women provide in the home do not contribute to economic well-being C. understate; some of the services that women formerly provided in the home are now purchased in the market D. understate; the services that women provide in the home do not contribute to economic well-being
Which national income account should be examined to discover trends in the after-tax income that people have to save and spend?
a. Gross domestic product (GDP) b. Gross national product (GNP) c. Disposable personal income (DI) d. National income (NI)