Under pure competition in the long run:
A. neither allocative efficiency nor productive efficiency is achieved.
B. both allocative efficiency and productive efficiency are achieved.
C. productive efficiency is achieved, but allocative efficiency is not.
D. allocative efficiency is achieved, but productive efficiency is not.
Answer: B
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In Figure 4-10 above, expansionary fiscal policy accommodated by the Fed can be pictured as a movement from points
A) A to D. B) A to C. C) D to B. D) B to D. E) A to B.
An auction has advantages over a lottery as a means of allocating the radio frequency spectrum
Indicate whether the statement is true or false
The real interest rate is the
A) nominal interest rate plus the anticipated interest rate. B) nominal interest rate minus the anticipated interest rate. C) nominal interest rate plus the anticipated inflation rate. D) nominal interest rate minus the anticipated inflation rate.
The use of quarterly data to develop the forecasting model Yt = a +bYt?1 is an example of which forecasting technique?
a. Barometric forecasting b. Time-series forecasting c. Survey and opinion d. Econometric methods based on an understanding of the underlying economic variables involved e. Input-output analysis