Why is free trade considered helpful to businesses?
a. It gives consumers more choices.
b. It increases competition.
c. It opens up wider markets.
d. It keeps consumer prices down.
c. It opens up wider markets.
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Holding everything else constant, if total factor productivity ________ or if the labor force growth rate ________ the debt-to-GDP ratio will increase
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Every time new firms enter a monopolistic competitive market, the firms already in the market find their
a. price rising to make up for lost customers b. cost curves shifting upward, reflecting increased inefficiency c. profits increasing because total revenues increase with more firms in the market d. demand curves becoming more inelastic as only loyal customers remain e. demand curves shifting inward to the left