Which of the following is NOT a characteristic of monopolistic competition?
A) Entry and exit is restricted.
B) Firms compete on price.
C) A large number of firms compete.
D) Firms compete on product quality.
Ans: A) Entry and exit is restricted.
Economics
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To eliminate a recessionary gap, the government can ________ government expenditures on goods and services or ________ taxes
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
Economics
Refer to Table 19-30. Based on the table above, what is personal income for this economy?
A) $1,950 billion B) $2,030 billion C) $2,450 billion D) $5,130 billion
Economics