Economists consider the long run as a period of more than one year.
Answer the following statement true (T) or false (F)
False
Economics
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At the equilibrium level of income, the value of consumption is equal to
A) (consumption - savings). B) (income - investment). C) (savings + investment). D) (income + investment).
Economics
When firms in the same industry locate in the same geographic region, it is known as dumping
a. True b. False Indicate whether the statement is true or false
Economics
The recurrent ups and downs in the level of economic activity extending over several years are referred to as
A. business startups. B. economic phases. C. business cycles. D. noncyclical fluctuations.
Economics
If demand for a product is perfectly inelastic, a change in price will not change total revenue
Indicate whether the statement is true or false
Economics