The zero-profit point shows the price below which a perfectly competitive firm lacks sufficient revenue to cover its variable costs
a. True
b. False
Indicate whether the statement is true or false
False
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The curve that shows the relationship between inflation and unemployment when the economy is at full employment is the
A) aggregate supply curve. B) long-run Phillips curve. C) long-run Okun's curve. D) aggregate demand curve. E) short-run Phillips curve.
The Sarbanes-Oxley Act of 2002 requires that CEOs personally certify the accuracy of financial reports
Indicate whether the statement is true or false
According to the quantity theory of money, if velocity of money is constant, a 5 percent increase in money supply will lead to a 0.25 percent increase in nominal GDP
a. True b. False Indicate whether the statement is true or false
Discrimination is difficult to measure empirically because
a. it is hard to measure and control for differences in marginal productivity. b. data on racial and gender differences is rarely available. c. discrimination is practiced by very few employers. d. economists find no significant wages differentials due to gender or race.