What are types of firms that exemplify monopolistic competition?
What will be an ideal response?
Most types of retailing in metropolitan areas are handled by monopolistic ally competitive firms. The retail stores would include gasoline stations, restaurants, clothing stores, jewelry stores, sawmills, and so forth. On the manufacturing side, there would be companies that publish books, make plastic pipes, make textile machinery, produce ready-mix concrete, or construct wood furniture or cabinets.
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A reserve currency is a currency that is:
a. used exclusively to settle domestic debts. b. specifically designed for use by commercial banks to settle accounts. c. held only by bureaucrats. d. used to settle international debts by private corporations. e. held by governments to facilitate foreign exchange market interventions.
Other things being constant, an economy must give up some consumer goods and services today to produce more capital goods in order to grow
a. True b. False Indicate whether the statement is true or false