Which of the following is NOT a feature of a monopolistically competitive market?
A. perfectly elastic demand curve
B. differentiated products
C. numerous buyers and sellers
D. advertising
Answer: A
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A Lorenz curve graphs the difference between money income and market income
Indicate whether the statement is true or false
Keynes reasoned that consumer expenditure is most closely related to
A) the level of interest rates. B) the price level. C) disposable income. D) the marginal tax rate.
Unemployment payments
a. fall during periods of prosperity and thus reduce inflationary pressures b. fall during periods of prosperity and thus increase inflationary pressures c. fall during recessions and thus increase the problem of unemployment d. rise during periods of prosperity and thus increase inflationary pressures e. rise during recessions and thus increase the problem of unemployment
The term “unemployed” includes all people who want a job, but don’t have one.
Answer the following statement true (T) or false (F)