The demand curve faced by a monopolistically competitive firm
A. is more elastic than the demand curve faced by the purely competitive firm.
B. is less elastic than the monopolist's demand curve.
C. will shift outward as new firms enter the industry.
D. is more elastic than the monopolist's demand curve.
Answer: D
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The inability of the Federal Reserve to explain movements in M1 demand has led to
A) less emphasis on money growth as a policy tool. B) the Federal Reserve's targeting V1 growth more closely. C) the Federal Reserve's switching to M2 and M3 targets. D) All of the above.
Age is a determinant of income because
A) with age typically come experience, education, and training that can increase income. B) age contributes to costs as medical expenses increase. C) older workers have accumulated more wealth. D) older workers have accumulated less wealth.
Within the U.S. population, teenagers (ages 16-19) have higher rates of unemployment than adults of prime working age (ages 25-54), regardless of race or gender
a. True b. False Indicate whether the statement is true or false
The difference between GNP and GDP is accounted for by:
(a) Depreciation; (b) Net factor income from abroad; (c) Indirect Taxes/subsidies; (d) Transfer Payments.