When the process of entry and exit has ended in a competitive market, are firms' profits positive, negative, or zero?
At the end of the entry/exit process, firms' profits are zero.
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While deficits in the United States through the 1970s, 1980s and early 1990s were high relative to our historical peacetime experience, they
a. were been below average for large industrial countries. b. were above average when compared to other large industrial countries. c. were about average for large industrial countries. d. were the lowest when compared to other large industrial countries.
If the value of the euro increases relative to the U.S. dollar, then French goods will be less expensive in the U.S
a. True b. False
Legislation that benefits many individuals at the expense of a few is a natural outcome of representative democracy
a. True b. False
The unemployment that results from the process of matching workers and jobs is called structural unemployment
a. True b. False Indicate whether the statement is true or false