International trade equalizes the opportunity cost of producing any good around the world

The forecast is

A) made for some date beyond the data set used to estimate the regression. B) another word for the OLS predicted value. C) equal to the residual plus the OLS predicted value. D) close to 1.96 times the standard deviation of Y during the sample.

Which of the following is a characteristic of a competitive market?

a. There are many buyers but few sellers. b. Many firms have market power because they own patents. c. Buyers and sellers are price takers. d. Firms sell differentiated products.