What can be said about the comparison between the unemployment benefits offered in Europe and in the United States?
a. Unemployment benefits tend to be lower in Europe and are offered for shorter periods than in the United States
b. Unemployment benefits tend to be higher in Europe and are offered for shorter periods than in the United States
c. Unemployment benefits tend to be lower in Europe and are offered for longer periods than in the United States
d. Unemployment benefits tend to be higher in Europe and are offered for longer periods than in the United States
e. Unemployment benefits in Europe and the United States tend to be of similar magnitude and are offered for similar periods.
D
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Monopolistic competition is similar to perfect competition in that:
a. there are only a few firms in the market. b. the entry into and exit from the market is easy. c. there are significant barriers to entry in the market. d. each firm sells a homogeneous product. e. each firm differentiates its product through advertising.
A possible advantage of a horizontal merger for the economy is that
A) the merging firms could avoid losses. B) the merged firm might reap economies of scale which could translate into lower prices. C) the degree of competition in the industry will be intensified. D) the government stands to collect more corporate income tax revenue.