Which of the following is not a characteristic of a perfectly competitive market?
a. Different sellers sell identical products.
b. There are many sellers.
c. Sellers must accept the price the market determines.
d. All of the above are characteristics of a perfectly competitive market.
d
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If you purchased a newly issued 30-year bond from Google with a face value of $3,000 and a coupon payment of 6 percent, Google would pay you
A) $180 per year for 30 years plus $3,000 at the end of the 30th year. B) $100 per year plus 6 percent per year for 30 years. C) $100 per year for 30 years plus $3,000 at the end of the 30th year. D) $180 per year for 30 years.
Figure 10-9
?
Figure 10-9 illustrates a period of
A. economic growth and high inflation. B. economic growth and low inflation. C. economic recession and high inflation. D. economic recession and low inflation.
When macroeconomics refers to "full employment," what do they mean?
a. Full employment occurs when the unemployment rate equals zero. b. Full employment occurs when there is only frictional unemployment, and all other types of unemployment have been eliminated. c. Full employment occurs when there is only structural unemployment, and all other types of unemployment have been eliminated. d. Full employment occurs when there is only frictional unemployment, structural, and cyclical unemployment has been eliminated.
In Figure 3.1, if demand is considered perfectly inelastic, then the appropriate figure is?
a. Figure 1
B. Figure 2
c. Figure 3
d. Figure 4