Because of the productivity slowdown in the United States from the mid-1970s through the mid-1990s,
A) the standard of living increased in the United States.
B) real GDP per capita grew more rapidly.
C) real GDP per capita grew more slowly.
D) the standard of living did not change.
C
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An advertising executive comes up with the slogan “Put the pep back in your life” to show how the Pep nutritional bar is more effective than many similar bars. The executive is taking part in ______.
a. a monopoly b. an oligopoly c. perfect competition d. monopolistic competition
In this graph, what is the difference between the marginal cost and the average total cost?
a. 0
b. $4.90
c. $6.00
d. $100
If psychological limitations and other complications cause people to be unable to examine and think through every possible choice available to them and rely instead on rules of thumb, then these individuals exhibit
A) completely irrational behavior. B) normative thinking. C) bounded rationality. D) positive thinking.
In imperfectly competitive markets
A. some competition may exist but only on price and not in other ways. B. some competition may exist in the markets. C. some competition may exist but only in other ways and not on price. D. there is no competition in the markets.