Which of the following statements is generally true?
A) Rivalry is less the larger the number of firms in an industry.
B) The smaller the number of firms in an industry, the greater the rivalry.
C) The degree of rivalry in an industry is largely independent of the number of firms.
D) The larger the number of firms in an industry, the greater the rivalry.
D
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The quantity theory of money assumes a constant ratio of ________
A) money demand to money supply B) money supply to nominal GDP C) money supply to real GDP D) real GDP to nominal GDP
The table above gives the aggregate demand and aggregate supply schedules in Lotus Land
With no changes in aggregate demand or long-run aggregate supply, in long-run macroeconomic equilibrium, the price level will be ________ and real GDP will be ________. A) 120; $400 B) 110; $500 C) 90; $400 D) 100; $600
How does an increase in real GDP affect the demand for money curve?
What will be an ideal response?
Refer to Figure 4-9. The price buyers pay after the tax is
A) $12. B) $8. C) $5. D) $3.