Creative destruction is not automatic because:
A. there are major obstacles to the entry of new innovative firms into concentrated industries.
B. consumer tastes are highly unstable.
C. corporate takeovers increase dynamic competition.
D. large firms rarely are technologically progressive.
Answer: A
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A country's balance of payment accounts include its government budget deficit or surplus
Indicate whether the statement is true or false
The Bretton Woods system relied on
A) a flexible exchange-rate system. B) a floating exchange-rate system. C) a fixed exchange-rate system. D) an exchange-rate union.
The defining characteristic of oligopoly is product differentiation
a. True b. False
Table 14.1Refer to Table 14.1. In which market do buyers underestimate the chance of getting a lemon?
A. 1 only B. 2 only C. 3 only D. 1 and 3 only