The word "theory" means the same to the scientist as it does to the man on the street
a. True
b. False
Indicate whether the statement is true or false
False
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Moving along the aggregate production function, all of the following are held constant EXCEPT
A) labor. B) capital. C) human capital. D) technology.
The efficient markets hypothesis indicates that investors
A) can use the advice of technical analysts to outperform the market. B) do better on average if they adopt a "buy and hold" strategy. C) let too many unexploited profit opportunities go by if they adopt a "buy and hold" strategy. D) do better if they purchase loaded mutual funds.
We say that a countrycompletely specializes in production when it spends all of its resources producing:
A. a particular good. B. those goods it has an absolute advantage in producing. C. only what other countries need. D. what it can make more of than anyone else.
From the viewpoint of economic efficiency, when competitive forces in an industry are weak, market allocation will often lead to
a. an output of the product that exceeds the amount consistent with ideal economic efficiency. b. an output of the product that is less than the amount consistent with ideal economic efficiency. c. an output of the product that equals the amount consistent with ideal economic efficiency. d. product prices that are below the cost of production.