Instrumental variables can be used to solve misspecification errors related to omitted variables.
Answer the following statement true (T) or false (F)
True
Rationale: FEEDBACK: Instrumental variables can be used to solve misspecification errors related to omitted variables.
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Based on the figure below. Starting from long-run equilibrium at point C, a tax cut that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies. 
A. D; C B. B; C C. B; A D. D; B
Drug dealers agreeing to sell drugs at a certain price is an example of
A. collective bargaining. B. a monopoly. C. a cartel. D. an entrepreneur.
A monopolist's demand curve is
A) perfectly elastic. B) perfectly inelastic. C) of unit elasticity throughout. D) the industry demand curve.
Why is a monopoly inefficient?
What will be an ideal response?