A firm will tend to follow competitors when they increase spending on R&D but will not follow them when they decrease such spending.
Answer the following statement true (T) or false (F)
True
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If supply in the market for air filters is specified as QS = 24 + 3P, then, when conventionally graphed,
a. the vertical intercept is +24 b. the slope of the supply curve is +3 c. the horizontal intercept is +3 d. none of the above
How do a partnership and a corporation differ?
A) Corporations face more taxes than do partnerships. B) Corporations can issue stocks and bonds, while partnerships cannot. C) Partnerships have unlimited liability while corporations have limited liability. D) All of these are differences between the two types of businesses.
Which of these is a likely impact of an increase in the price level in an economy on the aggregate supply in the economy?
a. An increase in the quantity of real GDP supplied b. A decrease in the quantity of real GDP supplied c. A leftward shift of the aggregate supply curve d. A rightward shift of the aggregate supply curve e. An increase in the slope of the aggregate supply curve
Rising labor productivity means that less labor is needed to produce the same level of output
a. True b. False Indicate whether the statement is true or false