Although the subprime mortgage market problem began in the United States, the first indication of the seriousness of the crisis began in
A) Europe.
B) Australia.
C) China.
D) South America.
A
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Only one of the following statements is correct. The statements compare perfectly competitive (PC) markets and monopolistically competitive (MC) markets. Which statement is correct?
A) Productive efficiency is achieved in both PC and MC markets. Allocative efficiency is achieved only in MC markets. B) Allocative efficiency is achieved only in PC markets. Productive efficiency is achieved only in MC markets. C) Productive efficiency and allocative efficiency are both achieved in PC markets. Neither is achieved in MC markets. D) Allocative efficiency is achieved in both PC and MC markets. Productive efficiency is achieved only in PC markets.
The long-run supply curve is horizontal in a(n)
a. increasing-cost industry b. constant-cost industry c. decreasing-cost industry d. labor-intensive industry e. capital-intensive industry
The benefits to trading nations based on comparative advantage accrue from:
A) Specialization only B) Specialization and trading C) Trading only D) Protection of domestic industries
An increase in the money supply tends to reduce investment.
a. true b. false