In general, the number of firms is lesser in monopolistic competition compared to oligopoly
a. True
b. False
Indicate whether the statement is true or false
False
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The duration of unemployment ________ during a recession.
A. remains constant. B. varies between 5 and 14 weeks. C. increases. D. decreases.
A depreciation of the dollar causes
A) a decrease in U.S. exports. B) an increase in U.S. imports. C) an increase in the prices of U.S. imports. D) an increase in the prices of U.S. exports.
Which of the following is a positive statement?
A. The minimum wage should not be increased because this action would increase unemployment. B. Smoking should be restricted on all airline flights. C. All automobile passengers should be required to wear seatbelts in order to protect them against injury. D. Intermediate microeconomics should be required of all economics majors in order to build a solid foundation in economic theory. E. none of the above
During the peak phase of a business cycle, a business could be expected to have
A. high prices. B. reduced sales. C. low profits. D. staff reductions.