Cigarette companies favored a ban on cigarette advertising
What will be an ideal response?
True. The cigarette industry is an oligopoly and it is likely that most of the advertising was aimed at stealing customers from rivals. Therefore, joint profits are greater without advertising.
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In the new classical model, all wages and prices ________
A) are completely flexible with respect to expected changes in the price level B) are fixed with respect to expected changes in the price level C) are flexible with respect to the value of the dollar D) are fixed with respect to the money supply
Suppose that, at a rental rate of $1000 per month, 650 residents wish to rent apartments and that landlords offer 800 apartments available for rent. Which one of the following statements is then TRUE?
A) There is a shortage of 150 apartments. B) There is an excess demand for apartments. C) The market clearing rental price of apartments is too low. D) The market clearing rental price of apartments is less than $1000 per month.
The coefficient of determination measures the proportion of the variation in the independent variable that is "explained" by the regression line
a. true b. false
Models are simplifications that are used to observe the workings of a system.
Answer the following statement true (T) or false (F)