The theory of rational expectations, when applied to financial markets, is known as
A) monetarism.
B) the efficient markets hypothesis.
C) the theory of strict liability.
D) the theory of impossibility.
B
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The long run for the industry is defined as a period of time long enough for
A. any new firm that desires to enter the industry. B. any old firm that desires to leave the industry. C. all aspects of production to vary and there are no fixed costs. D. All of the responses are correct.
Which of the following categories accounted for the lowest percent of the total federal government expenditures in recent years?
a. Income security. b. National defense. c. Education and health. d. Interest on the national debt.
Each point along the market demand curve shows
a. the quantity of the good that firms would be willing and able to supply at a specific price b. the relationship between the price of the good and total quantity demanded at a series of prices c. the opportunity cost of supplying a given quantity of goods to the market d. the quantity of the good that consumers would be willing and able to purchase at a specific price e. how population changes affect the quantity demanded at a specific price
According to Edward Chamberlin, is the "differentness" of products a waste of resources? Explain
What will be an ideal response?