Monopolistic competition is characterized by:
A. Rothschild indices that are close to zero.
B. concentration ratios that are well above zero.
C. employing labor from a perfectly competitive labor market.
D. differentiated products.
Answer: D
You might also like to view...
As the circular flow model shows, the factors of production flow from
A) households to firms through the factor market. B) firms to households through the goods market. C) the goods market through firms to the factor markets. D) households to firms through the goods market. E) firms to households through the factor market.
Refer to the accompanying figure. Assume the market is originally at point W. Movement to point Z is a combination of:
A. an increase in supply and an increase in quantity demanded. B. a decrease in supply and an increase in quantity demanded. C. an increase in demand and an increase in quantity supplied. D. an increase in supply and an increase in demand.
In the late 1970s and early 1980s, the job of money that did not perform that well was as a _____.
Fill in the blank(s) with the appropriate word(s).
When people hold financial assets in the form of money, they:
A. reduce their financial assets. B. forgo interest payments. C. earn income in the form of interest rate. D. pay interest rates.