Which statement below is true for a price taker in the long run?
A) Net revenue can only be positive.
B) Net revenue can only be negative.
C) Net revenue can only be zero.
D) Net revenue can be positive, negative, or zero.
C
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Explain the rational expectations hypothesis
What will be an ideal response?
Stagflation refers to a period of staggering economic growth combined with very low inflation rates
Indicate whether the statement is true or false
When the supply of labor increases, according to the specificfactors model, which of the following is likely to happen in the sending country?
a. The number of workers employed will decrease. b. The wages for workers will rise. c. The marginal product of labor shifts to the right. d. All of these are likely to happen in the sending country.
The term ceteris paribus is an economic assumption that means
A) let the buyer beware. B) logical common sense. C) the detail is in the interrelationship. D) other things being equal.