Products are homogenous when:
A. they are identical in the eyes of the purchasers
B. some purchasers view the products as different
C. suppliers can charge different prices for the same good
D. they meet basic safety standards.
A. they are identical in the eyes of the purchasers
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The factor accounting for the steepest rise in the currency ratio since 1892 is
A) taxes. B) bank panics. C) illegal activity. D) an increase in wealth.
In a sequential game, given Mattie's best response function, what would Irene's best response be?
a. Not enter the market b. Enter the market c. Fight d. Run away
Capitalism is based on all of the following except
A. the "invisible hand". B. the price mechanism. C. trust. D. equity.
Suppose that the rate of interest increases. What will happen to the discounted present value of an investment?
A. It will increase. B. It will decrease. C. It will remain unchanged. D. It depends on the magnitude of the change.