Since economists cannot use natural experiments offered by history, they must use carefully constructed laboratory experiments instead
a. True
b. False
Indicate whether the statement is true or false
False
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The two basic ways for workers to acquire human capital are
A) formal education and "learning by doing." B) purchases in the capital market and trade. C) increases in the capital stock and increases in total factor productivity. D) training and intuition.
Suppose the demand for pizza in a small isolated town is p = 10 - Q. The only two firms, A and B, behave as Cournot duopolists. Each has a cost function TC = 2 + Q
If the government wants to subsidize firm A to raise its output to that of a Stackelberg leader, how large should the subsidy be?
Discuss the major determinants of net exports
Entry of a second firm will result in a downward shift in the ATC curve.
Answer the following statement true (T) or false (F)