Characteristics of a monopolistically competitive market include all of the following except:
a. some influence over price.
b. a large number of sellers.
c. barriers to entry.
d. differentiated products.
Question 2
Purchasing power parity exists when domestic currency:
a. maintains a fixed exchange rate with foreign currency.
b. is not convertible into foreign currency.
c. buys more goods at home than abroad.
d. buys as many goods at home as it does abroad.
e. appreciates in value against foreign currency.
Seven characteristics are common to all life
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