The dates of turning points are determined by a committee from the
A) FBI.
B) BLS.
C) BEA.
D) NBER.
D
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When advertising is used to relay information about price, each firm is able to enhance market power
a. True b. False Indicate whether the statement is true or false
During pledge week your local public television station asks viewers to contribute to the station. People who watch public television but do not contribute are:
A. free-riding. B. engaged in moral hazard. C. those who do not value public television. D. causing adverse selection.
For economic analysis, the long run is any period in which all inputs are variable (regardless of the length of time involved).
Answer the following statement true (T) or false (F)
The statement, "Violent crime has decreased in the last five years," is:
A. obviously wrong and, therefore, cannot be a positive statement. B. normative since it can be answered by simply looking at the facts. C. positive because it is testable. D. not very interesting because all normative issues are of little importance.