A competitive market structure differs from the monopoly, oligopoly, and monopolistic competition structures in the
A) producers' ability to set price.
B) profit maximization condition.
C) amount of long-run profit.
D) entry conditions.
A
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As real disposable income increases, we expect the average propensity to consume (APC)
A) to always be below MPC. B) to increase. C) to remain unchanged. D) to decrease.
If sales of Saudi Arabian oil to the rest of the world increase and Saudis use the proceeds to buy foreign goods, which of the following increases?
a. Saudi Arabian net exports but not Saudi Arabian net capital outflow b. Saudi Arabian net capital outflow but not Saudi Arabian net exports c. both Saudi Arabian net exports and net capital outflow d. neither Saudi Arabian net exports nor net capital outflow
The majority of blacks were shipped from West Africa, but some also came from Madagascar and Zanzibar
Indicate whether the statement is true or false
When the economy is in a recession, ____ rises and poverty ____
a. unemployment; decreases b. employment; decreases c. unemployment; increases d. employment; increases