An exogenous variable is typically ________
A) calculated by the model
B) only used to conduct policy analysis
C) explained inside the model
D) disregarded in economic models
E) none of the above
E
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Unemployment caused by a business cycle recession is called cyclical unemployment
Indicate whether the statement is true or false
Spending on the structures, equipment, and software that provide the industrial capacity to produce goods and services for all sectors of the economy is called:
A) inventory investment B) business fixed investment C) residential fixed investment D) consumption
The federal government has the power to investigate and to try to block
A. only voluntary mergers between firms. B. only hostile takeovers. C. only friendly takeovers. D. any combination of the ownership of previously independent firms that increases concentration.
In a competitive industry with identical firms, long-run equilibrium is characterized by:
A. MR = MC. B. P < MC. C. MR < P. D. P > AC.