In the short run, perfectly competitive firms
a. always earn an economic profit
b. never earn an economic profit
c. always invest more in order to earn more
d. never suffer an economic loss
e. can earn an economic profit
E
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Part-time workers are considered both a part of the labor force and employed
Indicate whether the statement is true or false
How is the equilibrium exchange rate determined?
What will be an ideal response?
GDP per capita is one way to measure an economy's growth. China and India began to progress when they allowed private ownership, around ____. Since then, there has been steady, strong growth in these economies
a. 1960 b. 1970 c. 1980 d. 1990 e. 2000
Suppose that a large and a small wind turbine have similar installation, operating, and maintenance costs, but a large turbine has four times the generating capacity but costs less than three times as much as a small turbine. The wind power industry faces:
A. constant returns to scale. B. economies of scale. C. diseconomies of scale. D. a hump-shaped cost curve.