All of the following are cited as factors in explaining U.S. competitiveness EXCEPT
A) the open U.S. financial system.
B) economic restructuring.
C) investments in information technology.
D) the decline of entrepreneurship.
D
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The equilibrium quantity in markets characterized by oligopoly is
a. higher than in monopoly markets and higher than in perfectly competitive markets. b. higher than in monopoly markets and lower than in perfectly competitive markets. c. lower than in monopoly markets and higher than in perfectly competitive markets. d. lower than in monopoly markets and lower than in perfectly competitive markets.
Refer to the figure. The consumption schedule indicates that:
A. consumers will maximize their satisfaction where the consumption schedule and 45° line intersect.
B. up to a point consumption exceeds income but then falls below income.
C. the MPC falls as income increases.
D. households consume as much as they earn.