Which of the following is a career that could result from majoring in economics?
a. Management
b. Government
c. Banking
d. All of these choices
d
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In the long run, perfectly competitive firms make zero economic profit, that is, their owners make a normal profit
Indicate whether the statement is true or false
If the short-run aggregate supply increases by less than the long-run aggregate supply, then, at the short-run equilibrium,
A) GDP will be above potential GDP. B) aggregate demand will increase. C) GDP will be below potential GDP. D) GDP will be equal to potential GDP.
Banks cannot fail, even when they make a large number of bad loans
Indicate whether the statement is true or false
What does the antitrust exemption give professional baseball team owners that owners of other professional teams don't have?
A. higher gate receipts B. wider marketing areas C. longer contracts with the players D. leverage over the cities in which they operate