Which of the following is NOT a characteristic of monopolistic competition?
A. advertising
B. large number of sellers
C. differentiated products
D. barriers to entry
Answer: D
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________ predicts that real GDP per person can grow indefinitely
A) New growth theory B) Classical growth theory C) Profit growth theory D) Neoclassical growth theory
A salesperson's bonus for this year is based on meeting targets based on last year's sales. This year turns out to be an unusually good year. The salesperson is likely to:
A. defer some sales to the next fiscal year B. just be satisfied with meeting last year's target. C. meet the target easily and push forward with all potential sales. D. fail to meet the last year's targets because of overconfidence.
A country can consume outside its production possibilities curve by trading.
Answer the following statement true (T) or false (F)
The benefits and costs of a choice is shown by using a
a. statistical table. b. decision-making grid. c. circle graph. d. line graph