Monopolistically competitive firms constantly develop new products in an effort to
A) make the demand for their product more elastic.
B) increase the demand for their product.
C) increase the marginal cost of their product.
D) None of the above are correct.
B
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When there is an excess demand for money, individuals and businesses will attempt to purchase bonds
a. True b. False Indicate whether the statement is true or false
The existence of interdependence among firms in an oligopoly market
A. allows the analysis of the market through standard approaches. B. results in a monopoly outcome under virtually all circumstances. C. increases entry into the market. D. results in a great deal of difficulty in analyzing the behavior of firms.
In a fractional reserve banking system,
A. the fraction of deposits that must be held is determined by the required reserve ratio. B. the required reserve ratio is set by the Federal Reserve System. C. banks hold reserves equal to only a fraction of their deposits. D. All of these responses are correct.
Economics is a
A) hard science. B) physical science. C) natural science. D) social science.