Which market type has characteristics as follows: one firm, good or service produced has no close substitutes, barriers to entry prevent new firms from entering into the industry?
A) perfect competition
B) monopolistic competition
C) oligopoly
D) monopoly
D
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As real rates of interest increase in the economy, real investment spending increases
Indicate whether the statement is true or false
If the United States can make auto parts in less time than Mexico, then why are U.S. auto parts made in Mexico?
a. Trade is based on comparative advantage, not absolute advantage. b. Mexico has a larger labor force and more manufacturing sites. c. North American manufacturing is evenly divided based on treaties. d. Mexican suppliers have an absolute advantage over U.S. companies.
According to the circular flow model, product markets are where
A. businesses acquire their inputs from households. B. households earn their money incomes. C. businesses incur their consumption expenditures to households. D. businesses earn their revenues from households.
Fiat monies, but not commodity monies, can be used as a store of value.
Answer the following statement true (T) or false (F)