The products sold by monopolistically competitive firms
A. have no close substitutes.
B. are differentiated.
C. are homogeneous.
D. can be either homogeneous or differentiated.
Answer: B
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Legally established titles to the ownership, use, and disposal of factors of production are referred to as
A) property rights. B) Coase rights. C) pollution rights. D) emission rights. E) price-setting rights.
The stock market boom in 1922–1929 seems "rational" enough if you take into account the expansion of the money supply in the same period
Indicate whether the statement is true or false
The ability to quickly convert an asset into cash is
A) disintermediation. B) the standard of deferred payment. C) financial intermediation. D) liquidity.
The distribution of income
a. is about the same in most countries b. tends to be more equal in developing countries than in developed countries c. is more concentrated in the United States than in Canada or Japan d. is more even in developing countries than in the Russia e. is not related to a country's level of development