If Family Travel Agency, a monopolistic competitor, offers services that are differentiated from the services of other producers in the industry, it
a. faces a perfectly elastic demand curve
b. is a price taker
c. has some power to control the price it charges
d. faces a perfectly inelastic demand curve
e. produces a product with no close substitutes
C
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The length of time until a bond matures is called the
a. perpetuity. b. term. c. maturity. d. intermediation.
Which of the following is true of resources?
A. Resources are outputs from the production of goods and services. B. A $1,000 investment is an example of a capital resource. C. Entrepreneurship organizes resources to produce goods and services. D. Land resources do not include water.
A positive temporary supply side shock will:
A. increase the level of potential output in the long run. B. decrease the price level in the long run. C. increase the price level in the long run. D. have no effect in the long run.
Identity the correct statement regarding corporate culture and corporate ethics.
A. Corporate culture can be well articulated, but not corporate ethics. B. Corporate culture and corporate ethics are well understood. C. Corporate ethics can be well articulated, but not corporate culture. D. Corporate culture and corporate ethics are elusive.