Which of the following is NOT a characteristic of a perfectly competitive market?
A. It is difficult for a firm to enter or leave the market.
B. The products sold by the firms in the market are homogeneous.
C. Each firm is a price taker.
D. There are many buyers and sellers in the market.
Answer: A
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Only realized capital gains are included in taxable income.
A. True B. False C. Uncertain
The aggregate supply curve shows the relationship between the price level and the level of real GDP produced by the nation's economy
a. True b. False Indicate whether the statement is true or false
During an economic slump, policies that lower interest rates may not actually boost investment because
A) lower interest rates tend to discourage investment, all other things unchanged. B) investment is never affected by interest rate changes. C) of pessimistic expectations by businesses about the future of the economy. D) taxes may have been decreased during a recessionary period.
Applying for a loan in five-person groups is an example of:
A. trade-off. B. group responsibility. C. party of five lending. D. family and friends lending.