If many sellers producing similar products enter the market, the demand curve for existing firms producing this type of product will ______.
a. become vertical
b. become horizontal
c. rise
d. fall
d. fall
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The more top-heavy income distribution is, the closer the Lorenz curve will be to the line of perfect equality
Indicate whether the statement is true or false
The simultaneous export and import of airplanes by the United States is an example of
A) increasing returns to scale. B) imperfect competition. C) intraindustry trade. D) interindustry trade.
If the economy is represented in the graph shown and is currently at point E1, then the economy must be in:
A. long-run equilibrium. B. a recession. C. an economic boom. D. an economic recovery.
Monetary policy:
a) Shifts the aggregate supply curve. b) Is controlled by Congress. c) Is controlled by the Federal Reserve. d) Refers to the use of government spending.