Firms in which market structure hold the most market power?

(A) Monopolistic competition
(B) Oligopoly
(C) Monopoly
(D) Perfect competition

Ans: (C) Monopoly

Economics

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Suppose that Year 1 is the base year. Year 2 real GDP is

A) $200. B) $270. C) $310. D) $390.

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Which of the following is NOT part of the European Union?

A) Luxembourg B) Austria C) Portugal D) Greece E) Switzerland

Economics