The market structure that consists of many firms, each selling a slightly differentiated product, is called:
a. perfect competition
b. a monopoly.
c. monopolistic competition.
d. an oligopoly.
c
Economics
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The aggregate demand curve illustrates that, as the price level rises
A) the quantity of real GDP demanded increases. B) the quantity of real GDP demanded decreases. C) the AD curve shifts rightward. D) the AD curve shifts leftward.
Economics
Which of the following are theories meant to explain "Why Price Levels are Lower in Poorer Countries"?
A) only Bhagwati-Kravis-Lipsey B) only Balassa-Samuelson C) only Goldberg-Knetter D) Bhagwati-Kravis-Lipsey and Balassa-Samuelson E) Bhagwati-Kravis-Lipsey and Goldberg-Knetter
Economics