In monopolistically competitive markets
A) price is greater than it would be in perfect competition.
B) price is less than it would be in perfect monopoly.
C) quantity is greater than it would be in perfect monopoly.
D) All of the above.
D
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Over time, a country's real GDP per capita typically
A) shrinks B) grows. C) increases and decreases randomly. D) remains stable.
Ch 1.The fallacy of composition is the incorrect view that
What will be an ideal response?
Automatic stabilizers work during both economic recessions and economic expansions.
Answer the following statement true (T) or false (F)
When the production of one good spills benefits over to third parties, the government should consider all of the following EXCEPT
A) subsidizing the consumption of the good. B) subsidizing the production of the good. C) creating tax incentives to encourage more consumption. D) taxing the production or consumption of the good.