Suppose the extra cost for a company to advertize for one extra day each week on a local TV station is $1,500. Then, the company should advertize on that additional day if it can generate total revenue of $1,500 each week
Indicate whether the statement is true or false
FALSE
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Positive analysis:
A. determines whether the consequences of a policy are desirable. B. recommends whether a policy should be implemented. C. aims at determining only the economic consequences of a particular policy. D. depends on the analyst's values.
According to your text, many people don't understand how economic systems work because they
A) are too lazy to study them. B) don't think economic systems matter greatly. C) tend to look at them when they are not performing adequately. D) prefer to believe what they read or hear in the media. E) have not been trained in the scientific way of thinking.
The demand curve facing a perfectly competitive firm is
A) the same as the market demand curve. B) downward-sloping and less flat than the market demand curve. C) downward-sloping and more flat than the market demand curve. D) perfectly horizontal. E) perfectly vertical.
Critics of the extreme rational expectations theory argue that wages and input prices do not adjust instantaneously
a. True b. False Indicate whether the statement is true or false