If a country is producing efficiently and is on the production possibilities frontier, the only way to produce more of one good is with an advance in technology
Indicate whether the statement is true or false
FALSE
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The demand for labor is a derived demand. Employers hire workers until the
A. wage rate equals the average product of labor. B. wage rate equals the marginal revenue product of labor. C. last worker hired adds nothing to total output. D. average product of labor is zero.
GLS is consistent and BLUE if
A) X is predetermined. B) the error process is AR(1). C) X is strictly exogenous. D) all the roots are inside the unit circle.
According to the Clayton Act,
a. lawyers are given an incentive to reduce the number of cases involving cooperative arrangements. b. individuals can sue to recover damages from illegal cooperative agreements. c. the government was able to incarcerate the CEO of a firm for illegal pricing arrangements. d. private lawsuits are discouraged.
Explain why the ratio of assets to capital increased dramatically for commercial banks from the 1960s to the present.
What will be an ideal response?