The theory of monopolistic competition was developed in two separate models by
A) Adam Smith and David Ricardo.
B) John Kenneth Galbraith and John Maynard Keynes.
C) Edward Chamberlin and Joan Robinson.
D) Roger Leroy Miller and Paul Samuelson.
C
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E&S Cooling Co installs air conditioning systems in new houses for homebuilders, and replacement systems for homeowners. Sales of which systems are included in this year's GDP?
a. Sales of replacement systems b. Sales of both systems c. Sales of systems in new houses d. Neither system would be included, because they are always intermediate goods.
Refer to the diagram. At the price $.80 for 1 euro:
The following diagram is a flexible exchange market for foreign currency:
A. the quantity of euros demanded equals the quantity supplied.
B. the dollar-euro exchange rate is unstable.
C. the dollar price of 1 euro equals the euro price of 1 dollar.
D. there will be a surplus of euros in the foreign exchange market.