Monopolistic competition is characterized by which of the following attributes: i. Many sellers ii. Product differentiation iii. Significant barriers to entry
a. (i) and (iii) only
b. (i) and (ii) only
c. (ii) and (iii) only
d. (i), (ii), and (iii)
b
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Refer to the table above. If the world price of trousers is $8 per pair, then which of the following statements is true?
A) Country B, Country C, and Country D will export trousers, whereas Country A will import trousers. B) Country A, Country C, and Country D will import trousers, whereas Country B will export trousers. C) Only Country B will import trousers, whereas Country A, Country C, and Country D will export trousers. D) All countries will import trousers.
An individual with a diversified stock portfolio usually
a. holds only the stocks of conglomerates (firms that participate in many industries). b. deals with several brokerage houses. c. holds stock in several types of firms. d. holds stocks with several maturity dates.
Which of the following would be most likely to shift the consumption function downward?
A. A stock market crash B. A price level decrease C. Increased corporate profits D. A stock market boom
Economics is the study of
A) the allocation of scarce resources to satisfy unlimited wants. B) why some people want certain goods and services. C) earning the most income. D) ways to use fewer resources.