In a competitive market, firms are unable to differentiate their product from that of other producers
a. True
b. False
Indicate whether the statement is true or false
True
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Which of the following is a legal remedy for a breach of the contract between parties?
a. Liquidated damages b. Imprisonment c. Unitization d. Specificity
If income increased by $20,000 . investment spending is fixed at $5,000 . government purchases are fixed at $10,000 . net exports are fixed at $500, and aggregate expenditure increases by $15,000 . what is the marginal propensity to consume (MPC)?
a. 0.25 b. 0.75 c. 0.33 d. 0.50 e. 0.70
As a consequence of the problem of scarcity:
A. There is never enough of anything B. Individuals have to make choices from among alternatives C. Only some people can "have it all" D. Things which are plentiful have relatively high prices
Refer to the information provided in Table 22.6 below to answer the question(s) that follow.
Table 22.6
Refer to Table 22.6. If 2015 is the base year, the inflation rate between 2015 and 2016 is
A. 13.8%. B. 12.2%. C. 9.4%. D. 7.0%.