Suppose James and Katherine are successful in establishing a profitable market for their "ghost restaurants" in what is a monopolistically competitive industry. In the long run, James and Katherine will most likely find it ________ to remain profitable
as they face ________ competition in the "ghost restaurant" market.
A) harder; more
B) harder; less
C) easier; more
D) easier; less
Answer: A
Economics
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Which of the following statements regarding U.S. economic growth is NOT correct?
A) Over the past 100 years, on the average real GDP per person grew 2 percent a year. B) The average annual growth rate of real GDP per person in the United States was rapid during World War II. C) In the 1930s, real GDP fell well below its trend. D) The growth rate of real GDP per person accelerated between 1973 to 1984.
Economics
The various quantities of all final commodities demanded at various price levels, ceteris paribus, is the
A) LRAS. B) production possibilities curve. C) aggregate demand curve. D) aggregate supply curve.
Economics