The market structure in which each firm has a monopoly over the product it makes, but many other firms make similar products that compete for the same customers is called
monopolistic competition.
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If the economy falls into a recession, automatic stabilizers will cause
A. tax receipts to rise and government spending to fall. B. tax receipts to fall and government spending to rise. C. both tax receipts and government spending to rise. D. both tax receipts and government spending to fall.
At the point where the disposable income line intersects the consumption function, saving:
a. equals consumption. b. equals disposable income. c. is less than zero. d. is equal to zero.
The majority of export in the U.S. come from:
A. capital goods and consumption goods. B. industrial goods and consumption goods. C. capital goods and industrial supplies. D. consumption goods and automotive vehicles.
Which of the following is not an example of price discrimination by a firm?
a. children's meals at a restaurant b. a natural gas company charging customers a higher rate in the winter than in the summer c. a senior citizens' discount d. coupons in the Sunday newspaper