The demand curve faced by a monopolistically competitive firm that incurs a loss in the short run will shift to the left in the long run
a. True
b. False
Indicate whether the statement is true or false
False
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A nation will export a good if its
A) no-trade, domestic price is less than the world price B) no-trade, domestic price is equal to the world price. C) no-trade, domestic price is greater than the world price. D) no-trade, domestic quantity is less than the world quantity. E) no-trade, domestic quantity is greater than the world quantity.
Quick Auto Service will do oil changes. If each oil change is done by five people, each of whom specializes in one task, this is an example of
A) economies of scope. B) team production. C) economies of monitoring. D) economies of coordination.
Growth in real GDP per capita for the world economy was greatest during
A) the seventeenth century. B) the eighteenth century. C) the nineteenth century. D) the twentieth century.
One advantage of forecasts based on a VAR rather than separately forecasting the variables involved is
A) that VAR forecasts are easier to calculate. B) you typically have knowledge of future values of at least one of the variables involved. C) it can help to make the forecasts mutually consistent. D) that VAR involves panel data.