Entry of new firms in monopolistically competitive industries can convey a negative externality on producers because firms lose customers and profits from the entry of new competitors. This externality is called the
business-stealing externality,
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The labor demand curve is based on the firm's:
a. average revenue curve. b. marginal product curve. c. marginal cost curve. d. average cost curve. e. marginal revenue product curve.
Whenever a former governor is elected president, the unemployment rate decreases; whenever a former congressman is elected president, the inflation rate increases. This statement is an example of
A. fallacy of logic. B. post hoc, ergo propter hoc fallacy. C. fallacy of inductive reasoning. D. ceteris paribus fallacy.
Which of the following is NOT one of the "unholy trinity" of events that interact to fuel an explosive hyperinflation?
A) supply shocks B) monetary accommodation C) exchange rate appreciation D) frequent wage indexation
During the colonial period,
(a) both men and women married on average during their teenage years. (b) women married on average during their teenage years and men during their early 20s. (c) both men and women married on average at ages between 20 and 25. (d) both men and women married on average during their late 20s.