The short-run market supply curve shows the relationship between the market price and the quantity supplied in the short run.
Answer the following statement true (T) or false (F)
True
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Which of the following statements does not follow from the median voter model?
a. Party platforms tend to converge to the median. b. The farther a candidate is away from the median voter, the more support she will have. c. Third parties generally cannot win elections. d. Political candidates tend to be quite similar to one another.
A major problem in projecting with a trend line is that
A) only straight-line projections can be accommodated. B) it is valid only if the trend is upward. C) it will not forecast turning points in activity. D) it is a very complex method of forecasting.
An industry with only three large equally-sized firms would have the same four firm concentration ratio but a higher Herfindahl-Hirshman Index compared to an industry with only four equally sized firms
a. True b. False Indicate whether the statement is true or false
For many years country A has had a lower unemployment rate than country B. According to the long-run Phillips curve which of the following could explain this? Country A has
a. maintained a higher money supply growth rate. b. maintained a lower money supply growth rate. c. a higher minimum wage than country B. d. a lower minimum wage than country B.