A good example of a monopolistic competitive industry is
A) the U.S. auto industry.
B) the public utility industry.
C) the computer game industry.
D) mining.
A
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If we say that a price is too high to clear the market, we mean that:
A. the price of the good is likely to rise. B. quantity supplied exceeds quantity demanded. C. quantity demanded exceeds quantity supplied. D. the equilibrium price is above the current price.
When the error term is not normally distributed, then
? is sometimes called the:
A. ?asymptotic standard error. B. ?asymptotic t statistic. C. ?asymptotic confidence interval. D. ?asymptotic normality.
What does the complete diagram represent, the bottom half and the top half put together?
a. business cycle in general b. the factor market c. circular flow in a free market economy d. household payments for the factors of production
The empirical evidence suggests that periods of high productivity growth will cause which of the following in the short run?
A) higher markups B) lower unemployment C) constant real wages D) greater equality in wages E) none of the above