When we measure and record economic value, we use money as the

In a market where firms are successful in convincing their customers that their product is different from their competitors' product but otherwise have no barriers to entry would be best characterized by

A) monopolistic competition. B) a monopoly. C) perfect competition. D) an oligopoly market.

In which of the following categories has spending as a percentage of GDP generally declined since the 1960s?

a. National defense b. Health and Medicare c. Social Security d. Community and regional development