Pick the true statement regarding the notion of competition as a process versus the model of perfect competition
A) The process notion allows for uncertainty and incomplete information; perfect competition doesn't.
B) The process notion allows for price searching activity; perfect competition doesn't.
C) The process notion allows for product differentiation; perfect competition doesn't.
D) The process notion allows for a small number of participants; perfect competition doesn't.
E) All of the above are true.
E
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Interest received from U.S. holdings of foreign assets and interest paid to foreigners for U.S. investment assets is recorded in the
A) official dollar account. B) current account. C) official settlements account. D) capital and financial account. E) official reserves account.
Substitutes are pairs of goods that have a positive cross-price elasticity of demand
a. True b. False