Perfectly competitive firms earn zero economic profit in the long run

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Refute the claim by mercantilists who claimed that without severe restrictions on international trade and payments, a country might find itself impoverished and without an adequate supply of circulating monetary gold as a result of balance of

payments deficits.

Economics

During the Great Depression, the money supply fell 28%. During that same time, the monetary base ____ and the currency-to-deposit ratio and reserve-to-deposit ratios both _____

a. rose; fell b. rose; rose c. fell; rose d. fell; fell

Economics

Scarcity means we are unable to have as much as we would like to have

a. True b. False Indicate whether the statement is true or false

Economics

Which of the following types of mergers are of greater concern as being anticompetitive among antitrust regulators?

a. Horizontal mergers b. Vertical mergers c. Conglomerate mergers d. Horizontal, vertical and conglomerate mergers are of equal concern as being anticompetitive

Economics