In perfect competition, the long-run outcome is always maximum efficiency
Indicate whether the statement is true or false
T
You might also like to view...
"I'd rather have $100 now than wait for $100 six months from now." This person
A) displays a negative rate of time preference. B) displays a positive rate of time preference. C) displays a zero rate of time preference. D) displays irrational behavior because the money will be more valuable later.
Assume that inventories declined by more than analysts predicted. This implies that
A) planned aggregate expenditure was less than real GDP. B) planned aggregate expenditure is unrelated to real GDP. C) planned aggregate expenditure was greater than real GDP. D) planned aggregate expenditure was equal to real GDP.
Poor countries grow faster than rich countries because of rapid growth in the labor force
a. True b. False Indicate whether the statement is true or false
The real minimum wage has increased significantly over the last 40 years.
Answer the following statement true (T) or false (F)