Assume that there are two types of perfectly competitive firms whose cost of production differ. An increase in input prices will lead to an exodus of high cost firms before low cost ones
Indicate whether the statement is true or false
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Economics
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The GDP deflator is a measure of the price level which is calculated as nominal GDP divided by real GDP and multiplied by 100
Indicate whether the statement is true or false
Economics
_________ are statements that ascribe blame or judge others. They can lead to arguments
a. I-messages b. You-messages c. Theymessages d. Expert messages
Economics
When a resource supply curve slopes upward, as it usually does, earnings consist of both opportunity cost and ________ ________
a. actual costs b. economic rent c. actual pay d. it only consists of opportunity costs
Economics
A model
A. is a complete representation of some phenomenon. C. is always expressed mathematically. D. cannot be qualitative in nature.
Economics