A market in which there are many sellers who all sell an identical product is called
A) perfect competition.
B) monopolistic competition.
C) monopoly.
D) oligopoly.
A
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Rising government expenditure, through its effect on the real interest rate, ________ v* and thus ________ net investment
A) raises, stimulates B) raises, depresses C) lowers, stimulates D) lowers, depresses
Which of the following is necessarily true when an economy is in long-run equilibrium?
a. Prices will be constant (that is, inflation will be zero). b. The actual output will be less than the full-employment (or potential) output. c. The actual rate of unemployment equals the natural rate of unemployment. d. The output of the economy will be greater than the full-employment output.
The fraction of prostitutes who were victims of childhood incest is estimated to be
A. 40 percent. B. 20 percent. C. 80 percent. D. 55 percent.
You own a condominium in Orlando, Florida. During the recent downturn in housing values in the area your condo's value declined by $75,000. Your economic income ________ and your taxable income ________.
A. fell; fell B. fell; was unchanged C. was unchanged; was unchanged D. was unchanged; fell