The research of William Shepherd suggests that since World War II, the three main reasons for increased competition in U.S. industries are international trade, deregulation, and antitrust activity

During the 2007-2009 recession and its aftermath, Okun's law

A) predicted the cyclical unemployment rate more accurately than it did prior to the recession. B) predicted the cyclical unemployment rate at roughly the same rate of accuracy as it did prior to the recession. C) predicted a higher cyclical unemployment rate than was actually experienced in the U.S. economy. D) predicted a lower cyclical unemployment rate than was actually experienced in the U.S. economy.

The flat portion of the long-run average total cost curve is a result of: a. economies of scale

b. diseconomies of scale. c. constant returns to scale. d. diminishing marginal returns.