Price taking behavior exists in
A) perfectly competitive markets.
B) markets with a monopolist, where consumers have to take price as it is given to them by the monopolist.
C) automobile markets where consumers have to take the price set by the dealer.
D) Both answers B and C are correct.
A
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When prices of new houses rise significantly faster than rent prices, this is evidence of a:
A) debt-deflation process B) bubble C) financial crisis D) sovereign debt crisis
Your text mentions several ways that international trade flows are qualitatively different than they were a century ago. Which of the following is NOT one of those ways?
A) Firms' investment spending on capital goods is more important than in the past. B) International trade in raw commodities and agricultural products is more important than it was in the past. C) It is possible to trade some types of services in a way that was not possible in the past. D) Multinational corporations play a bigger role in production than they did in the past.