All along the beach in San Diego, California are shops which rent boogie boards by the hour
Tourists perceive that all rental boogie boards are identical, all prices are clearly listed on signs in front of the shops, and there are no restrictions on entry and exit in the boogie board market. What type of market is the boogie board market? A) monopoly
B) oligopoly
C) monopolistic competition
D) perfect competition
D
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Refer to Table 2-13. Which of the following statements is true?
A) Horace has an absolute advantage in dog grooming and Tammi in cat bathing. B) Tammi has an absolute advantage in both tasks. C) Horace has an absolute advantage in cat bathing and Tammi in dog grooming. D) Horace has an absolute advantage in both tasks.
Hyperinflation can be defined as an inflation rate of
A) 50% or more per month. B) 50% or more per year. C) 50% or more decade. D) All of the above are appropriately defined as hyperinflation.
Which of the following will increase economic freedom?
a. freedom to enter and compete in markets b. high tariff rates c. high taxes d. rapid and unpredictable inflation
Suppose someone offered to give you $1,000,000 five years in the future and the anticipated interest rate is 5 percent. The present value of this offer would be worth approximately
A. $500,000. B. $286,000. C. $784,000. D. $1,050,000.