In a market socialist economy
a. Resources are allocated by the market
b. Property is owned by the state or by collectives
c. Information is centralized
d. There are no public choices
e. Both a and b
E
Economics
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In monopolistic competition, the presence of a large number of firms making a differentiated product means that
A) each firm can set the price of its particular product. B) each firm must charge the same price. C) the price is established by collusive behavior. D) each firm must produce the same quantity. E) firms cannot compete with each other on the basis of price.
Economics
A long and deep recession in the business cycle is:
a. unemployment. b. a trough. c. a recession. d. a depression e. unavoidable.
Economics