Under perfect competition all sellers sell a(n) ___________ product.
Fill in the blank(s) with the appropriate word(s).
identical
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Taxes that change with the level of real GDP and income are called
A) flexible taxes. B) voluntary taxes. C) induced taxes. D) forced taxes. E) GDP taxes.
What are the three main sets of factors that cause the supply and demand curves in the foreign exchange market to shift?
What will be an ideal response?
An individual supply curve is a(n) ______ as you move from left to right.
a. zig zag line b. horizontal line c. downward slope d. upward slope
If a nation has an absolute advantage in the production of some commodity, it
A. can gain only if it has a comparative advantage in the commodity. B. may still gain from trade in the commodity. C. cannot gain from trade in the commodity. D. cannot gain unless it has an absolute advantage in every other commodity.