Economic growth can be pictured in a production possibilities curve diagram by
A) making the production possibilities curve more bowed out.
B) making the production possibilities curve less bowed out.
C) shifting the production possibilities curve out.
D) shifting the production possibilities curve in.
C) shifting the production possibilities curve out.
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A monopoly firm is producing where its marginal revenue is equal to marginal cost. At this level of output, the firm's price is $3.75 and its average total cost is $4.50 . Is the firm earning a profit? Explain
How could this firm determine whether it should continue to operate in the short run or if it should shut down?
The marginal productivity theory of income distribution was developed by
A) William Stanley Jevons. B) George Akerlof. C) John Bates Clark. D) Edward Lazear.
Determining whether the income distribution accurately reflects performance ability is possible, although difficult
Indicate whether the statement is true or false
In the regression model Yi = β0 + β1Xi + β2Di + β3(Xi × Di) + ui, where X is a continuous variable and D is a binary variable, β3
A) indicates the slope of the regression when D=1. B) has a standard error that is not normally distributed even in large samples since D is not a normally distributed variable. C) indicates the difference in the slopes of the two regressions. D) has no meaning since (Xi × Di) = 0 when Di = 0.