The three variables predicted by forecasting are the timing, magnitude, and length of exchange rate movements.

Firms are often more efficient than markets as coordinators of economic activity because

A) firms can achieve lower transaction costs. B) markets cannot coordinate production. C) firms don't rely on economies of scale while markets do. D) firm coordination is always more economically efficient than market coordination.

In the mid-1980s, the salaries of accounting professors with Ph.D.s increased dramatically. This resulted in an increase in enrollments in Ph.D. accounting programs. Since a Ph.D

degree in accounting may take at least four years to complete, the short-run elasticity of supply of accounting professors is A) greater than the long-run-elasticity of supply. B) less than the long-run elasticity of supply. C) equal to the long-run elasticity of supply. D) equal to the short-run elasticity of demand.