The definition of monopolistic competition differs from that of perfect competition
A. with respect to the number of firms in the industry.
B. with respect to the type of product.
C. in both the number of firms and the type of product.
D. in neither the number of firms nor the type of product.
B. with respect to the type of product.
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People should buy bonds when they think that interest rates are as high as they will go
Indicate whether the statement is true or false
Which of the following activities is most likely to be counted in GDP?
A. Gail buys paper and crayons to donate to poor children in need of school supplies. B. Bud works hard five hours each week to make sure that his lawn always looks nice. C. Fran volunteers at the local veteran's hospital twice a month. D. Stu gave $5 to a homeless man he met in the park.
Under a gold standard, a discovery of gold will
A. decrease the general price level. B. increase the general price level. C. cause increased unemployment. D. cause decreased rates of economic growth.
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. If Ohio Edison is forced to produce the efficient level of electricity (instead of the monopoly level), ________ equals area BEC.
A. producer surplus B. welfare loss C. consumer surplus D. the net social gain