Economics Final Exam review (Economics Final Exam review)
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Economics Final Exam review
- Exam (elaborations) • 100 pages • 2021
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Economics Final Exam review 
Chapter 1 
 Question 1 
Which of the following statements is correct? 
Correct Answer: All else constant, a monopoly firm has more market power than a 
monopolistically competitive firm. 
 Question 2 
Which of the following statements is false? In the circular flow model: 
Correct Answer: factor payments are made to business firms. 
 Question 3 
Which of the following would be considered an example of a macroeconomic problem? 
Correct 
Answer: 
Should the f...
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