Microeconomics only looks at the behavior of one consumer or one firm in a market, while macroeconomics looks at the behavior of an entire industry or group of consumers
a. True
b. False
Indicate whether the statement is true or false
False
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When accounting profits are negative, economic profits
A) must be positive. B) will be negative. C) will equal zero. D) could be positive, negative or zero.
The direct cost of debt depends on:
A. the amount of the deficit. B. fiscal policy. C. the implementation lag. D. the interest rate.
In the long run, the perfectly competitive firm
A) does not have a shut down price. B) earns only a normal profit. C) may produce even if it suffers a loss. D) earns an economic profit.
The random walk theory says that
A) stock prices follow a trend for varying periods of time. B) successive stock prices increase more than they decrease. C) successive stock prices are dependent on the weighted average of the previous week's prices. D) successive stock prices are independent of each other.