Under a capitalist economic system,
a. the state owns all or most of the resources
b. people are forced to work for a living
c. resources are privately owned
d. the government determines the allocation of resources
e. prices eventually become unnecessary
C
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In the model of monopolistic competition, trade costs between countries will cause domestic and foreign markets to have ________ prices, ________ quantities sold, and ________ profit levels
A) different; different; different B) identical; different; different C) different; different; identical D) identical; different; identical E) identical; identical; different
The more a nation depends on imported raw materials, the ________ closely linked is its marginal cost to its nominal aggregate demand, thus the ________ for the typical firm is a policy of indexing price to nominal aggregate demand
A) more, riskier B) more, safer C) less, riskier D) less, safer