Resources are limited in both wealthy and poor societies.
Answer the following statement true (T) or false (F)
True
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Which of the following market types has the fewest number of firms?
A) perfect competition B) monopolistic competition C) oligopoly D) monopoly E) perfect competition and monopolistic competition
A Tiebout model involves
A. completely mobile individuals. B. governments generating no externalities. C. perfect information. D. all of these answer options are correct.
Assume that coffee and tea are substitutes. Given a downward sloping demand curve for tea, an increase in the price of tea will cause
A) an increase in the demand for coffee. B) a decrease in the demand for coffee. C) a leftward shift of the demand curve for tea. D) a leftward shift in the demand for coffee.
In the classical theory of employment, a rise in the rate of interest will
A. increase saving and decrease investment. B. decrease saving and increase investment. C. increase saving and investment. D. decrease saving and investment.