The production of agricultural products such as wheat or corn would best be described by which market model?
A. Pure competition
B. Pure monopoly
C. Monopolistic competition
D. Oligopoly
Answer: A
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If inflation is positive and is perfectly anticipated
A) those that lend money lose. B) no one in the economy loses. C) those that borrow money lose. D) those that hold paper money lose.
In Exhibit 5-9, the price elasticity of supply for good X between points E and C is:
a. 7/5 = 1.40. b. 1/5 =0.20. c. 5/7 = 0.71. d. 1.
The euro floats against other currencies, but the member nations of the euro have no separate national money. For this reason, Spain, that uses the euro as its currency is listed under the managed float arrangement
a. True b. False Indicate whether the statement is true or false
Negative externality occurs when
A. the production of a good harms third parties. B. the production of a good helps third parties. C. the consumption of a good helps third parties. D. a buyer is sold inferior and damaged merchandise.