14. In a specific market there is only one seller at one product category. It is a characteristic of a Perfect competition b. Monopoly c. Oligopoly d. Monopolistic competition 15. According to the government statistics, in recent years, Americans have imported more goods from other nations than they have sold to the rest of the world. a. True b. False 16. Net product imports are a component of Gross Domestic Product (GDP). a. True b. False 17. The price of labor in the NBA as more than doubled in the past 12 years but demand has remained strong. a. True b. False