In monopolistically competitive markets
A) price is greater than it would be in perfect competition.
B) price is less than it would be in perfect monopoly.
C) quantity is greater than it would be in perfect monopoly.
D) All of the above.
D
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A cooperative outcome in a situation where one nation pegs to another would be that the:
A) center country abandons its own stabilization policy in favor of the home country. B) home country absorbs the losses resulting from the stabilization policy in the center country. C) center country makes concessions, recognizing the impact on the home country, thereby sharing the pain. D) peg is temporarily abandoned.
For the past several decades, union membership in the United States has been declining. What has been happening in the rest of the world?
A) Union membership has been increasing in almost every other country. B) In almost every other nation, union membership has held constant. C) In most cases, union membership in other nations has also been falling. D) We do not know because other nations do not keep these statistics.