Income inequality has risen in recent years due to a rise in labor's share of national income as a result of globalization.
a. True
b. False
Indicate whether the statement is true or false
Question 2
Which of the following is not true of monopolistic competition?
a. There are a large number of buyers and sellers.
b. The firms produce differentiated products.
c. There exists free entry and exit of firms.
d. Each of the firms faces a horizontal demand curve.
e. Each of the firms acts as a mini monopoly in the market.
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