According to Michael Porter, there is a strong correlation between _____ and the creation and persistence of competitive advantage in an industry.
Fill in the blank(s) with the appropriate word(s).
domestic rivalry
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In the short run, ________
A) cost push shocks can cause firms to raise prices B) workers pushing for higher wages may lead to increases in inflation C) the aggregate supply curve may shift to the left with increases in expected inflation D) all of the above E) none of the above
Total factor productivity shocks are not a good explanation of economic fluctuations in the New Keynesian model for all the following reasons except
A) they do not generate output fluctuations. B) employment drops when TFP increases. C) the real wage drops when TFP increases. D) they do not generate price fluctuations.
The statement "There is no accounting for taste" implies
A) individuals all have the same preferences. B) individuals all have different cardinal preferences but the same ordinal preferences. C) individuals all have different ordinal preferences but the same cardinal preferences. D) individuals all have different ordinal and cardinal preferences.
At a level of output equal to the economy's potential, the simple spending multiplier in the long run equals one
a. True b. False Indicate whether the statement is true or false