The following scatterplot displays the 1990 per capita income versus number of deaths due to traffic accidents per 100,000 people for each of the 50 states plus the District of Columbia.Which of the following is a plausible value for the correlation coefficient between weight and MPG?
A) +0.2
B) –0.5
C) +0.7
D) –1.0
Answer: B) –0.5
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If workers and firms lower their inflation expectations
A) actual inflation will fall to match expected inflation. B) unemployment will rise. C) the short-run Phillips curve will be vertical. D) the short-run Phillips curve will shift downward.
In the United States, imports have exceeded exports in every year since 1979
a. True b. False
Which statement is true?
A. The monopolistic competitor can make a profit in the long run. B. The monopolistic competitor operates at an output that is the lowest point on the ATC. C. The monopolistic competitor has a small influence on price because its products are differentiated. D. None of these statements are true.
One major barrier to entry under pure monopoly arises from:
A. diseconomies of scale. B. the availability of close substitutes for a product. C. the price taking ability of the firm. D. ownership of essential resources.