As a researcher, which aspect of the results would be of greatest concern?
A) the negative value of the constant (i.e., -6,500)
B) the relatively low impact of the competitor's price
C) the fact that not all of the variables are statistically significant
D) the poor fit of the regression line
D
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Which of the following best approximates a pure monopoly?
A. the fast food market B. the oil market C. the steel market D. the NFL
Advertising is the action of a firm that is intended to maintain the differentiation of its product over time
Indicate whether the statement is true or false
If inflation is greater than expected, then the unemployment rate is
a. above the natural rate. In the long run the short-run Phillips curve will shift right. b. above the natural rate. In the long run the short-run Phillips curve will shift left. c. below the natural rate. In the long run the short-run Phillips curve will shift right. d. below the natural rate. In the long run the short-run Phillips curve will shift left.
The study of how people choose among the alternatives available to them is the:
A) definition of economics. B) model of demand. C) theory of opportunity costs. D) method of distinguishing between microeconomics and macroeconomics.