The more firms are present in a market, the:
A. more collusion is likely to occur.
B. more like a monopoly it will behave.
C. more competition is likely to be present.
D. less competition is likely to be present.
Answer: C
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If a lower price for good X increases the demand for good Y, the cross elasticity value for the two goods is
A) negative. B) equal to zero. C) positive and less than one. D) positive and greater than one. E) possibly negative, positive, or zero, but there is not enough information to decide.
Keynesians tend to not believe in the stability of free markets
Indicate whether the statement is true or false
A country has net capital outflow of -10 billion euros and domestic investment of 20 billion euros. What is its national saving?
a. 30 billion euros b. 10 billion euros c. -10 billion euros d. -30 billion euros
A good that is always used with another good
a. elasticity of demand b. substitution effect c. law of demand d. complement e. substitute