The long run is a period long enough so that one of the firm’s commitments ends.
Answer the following statement true (T) or false (F)
False
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Which of the following would not be counted in the calculation of GDP?
A. Buying a brand new car. B. Paying for a flight to Las Vegas. C. Government spending on social security. D. Paying for a maid service to come clean your house.
If in the market for peaches the supply curve has shifted to the left
A) the quantity of peaches supplied has decreased. B) the quantity of peaches supplied has increased. C) the supply of peaches has increased. D) the supply of peaches has decreased.
A predicted value of a dependent variable:
A. represents the difference between the expected value of the dependent variable and its actual value. B. is always equal to the actual value of the dependent variable. C. is independent of explanatory variables and can be estimated on the basis of the residual error term only. D. represents the expected value of the dependent variable given particular values for the explanatory variables.
Tax credits for new investment are likely to
A. Increase or decrease physical capital investment, depending on the magnitude of the tax credits. B. Have no effect on physical capital investment. C. Decrease physical capital investment. D. Increase physical capital investment.