The common feature of the Great Depression and the Global Economic Crisis is
A) that they were preceded by an asset price bubble.
B) the active role of the Government before the crises.
C) the active role of the FED before the crises.
D) the immediate and the aggressive response by both government and the FED.
A
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When comparing perfect competition and monopolistic competition, we find that
A) firms in monopolistic competition produce identical products just as do firms in perfect competition. B) firms in monopolistic competition face barriers to entry, unlike firms in perfect competition. C) advertising plays a large role in monopolistic competition, unlike in perfect competition. D) firms in monopolistic competition are price takers just as is the case for firms in perfect competition.
Between 1620 and 1710, the price of tobacco in the colonies:
a. rose rapidly. b. remained fairly stable due to monopolistic competition. c. fell from over 20 pence sterling to roughly one pence per pound. d. fell from over 20 pence sterling to roughly 10 pence per pound.