Standardized products can appear:
A. only in perfectly competitive markets.
B. in perfectly competitive and monopolistically competitive markets.
C. in monopolistically competitive and oligopoly markets.
D. in perfectly competitive and oligopoly markets.
D. in perfectly competitive and oligopoly markets.
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Economic growth occurs because
A) labor forces grow. B) capital stocks grow. C) new inventions raise productivity. D) All of the above.
The issue is not so much whether globalization will pressure low-income countries to reduce their environmental standards, but instead whether the threat of blocking international trade can pressure these countries into adopting stronger standards.
Select whether the statement is true or false. A. True B. False
The marginal propensity to save is
a. the change in saving induced by a change in consumption b. (change in S) × (change in Y) c. 1 – MPC/MPC d. (change in Y – bY)/(change in Y) where b is the MPC e. 1 – MPC
Sandra routinely uses currency to purchase her groceries. She is using money as a medium of exchange
a. True b. False Indicate whether the statement is true or false