If the price of a product decreases, we would expect
What will be an ideal response?
quantity supplied to decrease.
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What are four functions of financial instruments?
What will be an ideal response?
Which of the following is not a characteristic of a monopolistically competitive market structure?
A) All sellers sell products that are differentiated. B) There is a large number of independently acting small sellers. C) Each firm must react to actions of other firms. D) There are low barriers to entry of new firms.
A goal of expansionary monetary policy is to:
A) decrease the rate of growth of real GDP. B) increase the rate of growth of real GDP. C) increase inflation. D) none of the above.
Voluntary free trade results in:
a. population growth. b. inflation. c. higher living standards. d. income disparity. e. unemployment.