Monopolistically competitive markets are like perfectly competitive markets because in both markets firms:
A. have some control over price.
B. face substantial barriers to entry.
C. face a large number of competitors.
D. have no control over price.
Answer: C
Economics
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Fill in the blank: By 2011, GDP in the United States was approximately ________ times greater than it had been in 1820
A) 100 B) 225 C) 550 D) 775 E) 900
Economics
The Bureau of Economic Analysis releases its first estimate of GDP for a particular quarter about a month after the quarter has ended, and continues to release revised GDP estimates for that quarter for
A) three additional months. B) the next 15 months. C) three years. D) more than three years.
Economics