Strategic dependence is found in
A) monopoly markets.
B) oligopolistic markets.
C) monopolistic competitive markets.
D) perfect competitive markets.
B
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According to the circular flow model, ________.
A. net investment must equal gross investment B. income must equal expenditures C. exports must equal imports D. saving must equal investment
The GDP price index equals
i. nominal GDP divided by real GDP multiplied by 100. ii. a measure of the price level. iii. an average of current prices expressed as a percentage of base-year prices. A) i, ii, and iii B) iii only C) ii and iii D) i only E) i and ii
Refer to Table 19-23. Suppose that a very simple economy produces three goods: pizzas, haircuts, and backpacks. Suppose the quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above
Use the information to compute real GDP in the year 2011 and 2016. Assume that 2011 is the base year. Is output higher in 2016 or 2011? Why?
A sole proprietorship has a single owner receiving the firm's profit and bearing limited liability
Indicate whether the statement is true or false