Monopolistic competition differs from ________
A. monopoly because firms cannot set their own price
B. oligopoly because firms produce differentiated goods or services
C. perfect competition because the goods or services produced are diffe-rentiated
D. monopoly because the good produced by each firm has no close subs-titute
C Answer C describes the key difference between perfect com-petition and monopolistic competition.
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If the yen to dollar exchange rate is 115, the U.S. price index is 140, and the Japanese price index is 165, what is the U.S. real exchange rate?
A) 74.52 B) 97.58 C) 135.55 D) 200.87
What is the growth rate of multifactor productivity if b = 0.20, k = 3, n = 1, and y = 4?
A) 1.0 B) 0.4 C) 2.4 D) 2.8
Voters are making a choice to spend money on three projects: a dam, a school, or a road. In the choice between the dam and the school, the majority favors the school. In a choice between a dam and a road, the majority favors a dam. In a choice between a road and a school, the majority favors a road. These rankings indicate that majority voting may
What will be an ideal response?
Economists often refer to the government revenue obtained from money creation as:
A) liquid revenue. B) windfall revenue. C) an inflation tax. D) a supplementary tax.