The equation of exchange specifies that
A) MsV = PY.
B) velocity and money supply are directly related.
C) MsP = VY.
D) Ms = PVY.
A
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Critically analyze the following and explain whether you agree or disagree: a. Janet knows a lot of people who do not like Marmite®, a yeast extract that is used as a spread on toast
She says that Marmite is so unpopular that Unilever, the company that manufactures Marmite®, cannot possibly have any monopoly power. b. Edgar says that a single firm in the wind power industry is unlikely to have a significant degree of monopoly power for an extended period of time. Since the cost of producing an additional unit of wind energy is so low, a large number of firms can enter the market and compete away economic profits.
An R2 close to 1
A) does not happen with real data. B) indicates that almost all of the variation in the dependent variable is explained by the regression. C) does not explain variation as well as an R2 that is above 2. D) means that the regression line does not fit the data very well.
An alternative to prohibiting sale of a tobacco is imposing a tax equal to its marginal
A. private cost. B. private benefit. C. social cost. D. external cost.
When economic profit is positive,
A. the firm's owners experience a decrease in their wealth. B. total revenue exceeds total economic cost. C. the firm's owners have successfully solved the principle-agent problem. D. foreign companies experience loss of market share