In a given market, a large number of firms sell a similar product. Consumers think that each firm's product is somewhat different from that of its competitors. This market is
A) perfectly competitive.
B) monopolistically competitive.
C) equivalent to a monopoly because consumers think the products are different.
D) equivalent to an oligopoly because consumers think the products are different.
B
Economics
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When the value of a currency is determined mostly by demand and supply, but with occasional government intervention, the exchange rate system is defined as
A) floating. B) fixed. C) Bretton Woods. D) managed float.
Economics
A decline in the output gap causes the demand for real balances
A) to rise and the interest rate to fall. B) to fall and the interest rate to rise. C) and the interest rate to fall. D) and the interest rate to rise.
Economics