Technical analysts in the financial markets are those who
a. believe that markets always operate efficiently.
b. look for stocks to buy based on the degree to which the company is investing in technology.
c. argue that a careful study of past prices of a given stock conveys useful information about future prices.
d. base their analyses on the current state of the macroeconomy.
c. argue that a careful study of past prices of a given stock conveys useful information about future prices.
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The Federal Reserve is
A) a Kentucky bourbon. B) a wild game preserve. C) an express mail service. D) the central bank of the United States.
In long-run equilibrium, a profit-maximizing firm in a monopolistically competitive industry will produce the quantity of output where
A. ATC < P, MR = MC = P. B. ATC = P, MR = MC < P. C. ATC < P, MR + MC < P. D. ATC = P, MR = MC = P.
Protecting a country's "infant" industries
A. seems to hurt the economy in practice because consumers of that industry's products are denied access to low-cost or higher-quality imports. B. will hurt the protected industry in the short run but generate growth for that industry in the long run. C. encourages short-run competition with the protected industry so that the industry will be forced to become efficient more rapidly. D. leads to long-run growth in most cases because the industries are given a chance to be competitive.
The demand curve facing the monopoly is horizontal.
Answer the following statement true (T) or false (F)