Monopolistic competition is characterized by
A. one firm selling several products.
B. many firms selling the same product.
C. many firms selling slightly different products.
D. one firm selling one product.
Answer: C
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The IMF, because it can force nations to take loans and bail out packages, has more power than other international governmental organizations dealing with the global economy
Indicate whether the statement is true or false
List and describe the sources of spending in the economy by focusing on the four major sectors of the economy
What will be an ideal response?
The total economic gain from trade equals ______.
a. the sum of consumer and producer surpluses b. the difference between consumer and producer surpluses c. the value of consumer surplus minus production costs d. the amount of producer surplus reinvested in trade
Which statement is true?
A. Cost-push inflation may be summed up as "too many dollars chasing too few goods". B. Profit-push inflation is a variant of demand-pull inflation. C. Demand-pull inflation usually happens during wars. D. The wage-price spiral is the basic cause of demand-pull inflation.