The monopolist can earn long-run profits even if it is not insulated with barriers to entry
Indicate whether the statement is true or false
false
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Implicit costs involve an exchange of money
Indicate whether the statement is true or false
The main goal of macroeconomic research is to
A) predict how the macroeconomy will perform in the future. B) analyze current macroeconomic data. C) develop new data that can be used to understand better the operation of the economy. D) make general statements about how the economy works.
Examples of incentive pay include
a. allowing employees a certain number of personal days b. royalties to textbook authors c. cleaning the worksite with weekly janitorial service d. offering a certain number of sick days
According to convergence theory, countries that start out poor should initially grow:
A. faster than ones that start out rich, and will eventually surpass their level of income. B. faster than ones that start out rich, but will eventually slow to the same growth rate. C. slower than ones that start out rich, but will eventually grow to the same growth rate. D. slower than ones that start out rich, and therefore will never reach a similar growth rate.