Which characteristic is associated with monopolistic competition?
A) collusion
B) product differentiation
C) small number of firms
D) awareness of rival firms in the market
B
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As the Indian rupee depreciates relative to the dollar, total spending on Indian goods and assets will increase. Therefore, in the foreign exchange market, the
A) supply curve of euros is downward sloping. B) supply curve of dollars is upward sloping. C) demand curve for euros is upward sloping. D) demand curve for dollars is upward sloping.
Which of the following changes would cause American net exports to decrease?
A) A decrease in the real value of the dollar B) A decrease in American income C) An increase in foreign income D) A shift in demand by American consumers away from domestically produced goods
During 2007-2008, the price of gasoline increased from approximately $1.50 to $4.00 per gallon. As a result, the
A) supply of gas guzzling automobiles decreased, causing their price to increase. B) supply of gas guzzling automobiles increased causing their price to fall. C) demand for gas guzzling automobiles, such as the Hummer, decreased, causing their price to decline. D) demand for gas guzzling automobiles increased, causing their price to increase.
Which of the following countries has the greatest percentage of people living in extreme poverty?
A. China. B. India. C. Bolivia. D. Congo.