In the late 1970s, ________ of all firms were less than a year old. In recent years, ________ were
A) almost half; less than one-quarter
B) less than 5 percent; more than 40 percent
C) about 16 percent; only about 8 percent
D) about 40 percent; about 20 percent
Answer: C
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Real GDP values current output of goods and services at their current prices.
Answer the following statement true (T) or false (F)
Explain the difference between productive efficiency and allocative efficiency. How do these efficiencies relate to monopolistic competition?
What will be an ideal response?
Refer to the table below. If supply decreased by 2 units at each price, what would the new equilibrium price and quantity be?
A. $3 and 5 units
B. $4 and 4 units
C. $5 and 5 units
D. $6 and 6 units
The benefits of social regulation usually are
A) always a zero sum. B) obvious to people while the costs are hidden. C) less than the costs of social regulation, reducing overall welfare. D) difficult to measure.