Assume it is announced that a large number of new competitors have entered the market for mountain bikes, each offering a different model. Based on this information, this industry is best characterized as:
A) perfectly competitive.
B) a monopoly.
C) monopolistically competitive.
D) an oligopoly.
C
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A copyright
a. is required to sell printed material b. grants exclusive rights over the protected material for at least seventy years c. is granted only to best original works of art, literature, and music d. grants the right to copy certain material such as printed material e. grants communal rights over the protected material for at least seventy years
What is the self-correcting mechanism that firms have and government agencies do not have?
a. Competitors b. Annual budgets c. Technology restrictions d. Unskilled employees
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.
Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine equilibrium consumption for this economy.
A. $3,350 B. $3,200 C. $3,000 D. $2,850