A characteristic of monopolistic competition is
A) product differentiation.
B) a high capital-output ratio.
C) a low ratio of fixed costs to variable costs.
D) the absence of advertising.
A
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As you can see, in terms of economic theory, this argument reflects the difference between classical and Keynesian views of how economies operate
What will be an ideal response?What will be an ideal response?
The income per capita of two neighboring countries for a particular year were equal. However, Country 1 had a higher income per worker than Country 2. Which of the following is likely to be true?
A) The number of people unemployed is lower in Country 1 than in Country 2. B) The number of children aged below 15 is higher in Country 2 than in Country 1. C) The number of retired people is higher in Country 2 than in Country 1. D) The number of people employed is higher in Country 2 than in Country 1.