In the long run in a competitive market,
a. existing firms can increase their plant size, and new firms can enter the market
b. existing firms can increase their plant size, but the number of firms is the market is fixed
c. new firms can enter the market, but existing firms cannot vary their plant size
d. new firms can enter the market, but only if existing firms decrease their plant size in the short run
e. existing firms can increase their plant size, only if some other firms exit
A
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Which of the following is a primary function of money?
A) to serve as a unit of account B) to serve as an encouragement to work C) to reduce the burden of excessive imports D) to raise funds for the government
State and local governments receive money from sales taxes, property taxes, and the federal government
a. True b. False Indicate whether the statement is true or false