It is possible that a firm in a perfectly competitive market earns a negative profit in the long run.
Answer the following statement true (T) or false (F)
False
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Between the years of 2001 and 2003, what happened to the structural deficit?
a. It declined rapidly. b. It fell steadily. c. It increased steadily. d. It remained fairly constant.
The implicit price deflator is given by the formula
A. nominal GDP in current period ÷ nominal GDP in base period. B. nominal GDP in current period ÷ real GDP in base period. C. nominal GDP ÷ real GDP. D. real GDP ÷ nominal GDP.
The U.S. dollar exchange rate, e, expressed as Japanese yen per U.S. dollar, will appreciate when:
A. the U.S. Federal Reserve eases monetary policy. B. U.S. consumers increase their preference for Japanese cars. C. real GDP in the U.S. increases. D. real GDP in Japan increases.
Since 1950, the U.S. data show that the average annual rate of growth was greater for real GDP than for real GDP per capita.
Answer the following statement true (T) or false (F)