A reform introduced under Deng:
a. the Shanghai experiment
b. the Great Leap
c. the Cultural Revolution
d. the Tang Reform
e. free trade zones
E
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If a perfectly competitive firm is producing the short-run profit-maximizing quantity and is earning positive economic profits, the firm should anticipate ________.
A) the market equilibrium price to increase B) the market equilibrium price to decrease C) earning economic profits indefinitely D) the market supply to decrease
"If an individual is to maximize the utility received from consumption, he or she should spend all available income. . . .". This statement assumes
a. that saving is impossible. b. that the individual is not satiated in all goods. c. that no goods are "inferior.". d. Both a and b.
One of the possible consequences of the expenditure schedule lying below the level of full employment GDP is
a. unemployment. b. rising prices. c. increasing production. d. decreasing inventories.
Which of the following is a test of nonnested models??
A. ?Davidson-MacKinnon test B. ?Standard F test C. ?Regression Specification Error Test D. Whitetest