Which of the following is true?
a. Industry structure determines firm conduct which in turn determines firms' performance
b. Industry structure determines firm performance which in turn determines firms' conduct
c. Industry conduct determines firm structure which in turn determines firms' performance
d. Industry performance determines firm conduct which in turn determines firms' structure
a
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Macroeconomists think that
a. most questions about individual markets are more important than the overall economy. b. questions of overall unemployment are less important than the jobs of particular workers. c. the details of resource allocation and individual market prices are less important than the amount of national output. d. the causes of unemployment usually lie with the personalities of individual workers. e. the price of particular products is more important than the overall price level.
Comparative advantage matters most in determining the efficient distribution of production over the world
a. True b. False Indicate whether the statement is true or false
A sole proprietorship has a single owner receiving the firm's profit and bearing limited liability
Indicate whether the statement is true or false
Give an example of how economics can be used in either a marriage, politics, or education.
What will be an ideal response?