Characteristics of monopolistic competition include all of the following except
A. significant barriers to entry.
B. a relatively large number of sellers and buyers.
C. small market share for each seller.
D. differentiated products.
A. significant barriers to entry.
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A marginally attached worker is a person who ________
A. works part time for economic reasons B. works part time for noneconomic reasons C. doesn't work, is available and willing to work, but hasn't looked for job recently D. has no job but would like one and has gone back to school to retrain
Which of the following compete to determine whether the current account improves or worsens following a rise in the real exchange rate?
A) appreciation and depreciation B) crowding Out effect and producers effect C) volume effect and value effect D) volume effect and inflation E) producers effect and value effect
Econville opens up trade with its neighboring countries. This causes the number of sellers of science fiction novels to increase. What happens to the equilibrium price and quantity?
a. Price and quantity both increase. b. Price decreases, and quantity increases. c. Price increases, and quantity decreases. d. Price and quantity both decrease.
The best example of a nondurable good is
a. a television set b. carpeting c. a washing machine d. an electric saw e. a pair of children's shoes