According to Allan Kulikoff, between 1630 and 1670, major surges in productivity caused tobacco output per worker to increase by a factor of:

Based on the Net Interest Margin the poor bank performance in the late 1980s

A) was not the result of interest-rate movements. B) was not the result of risky loans made in the early 1980s. C) resulted from a narrowing of the gap between interest earned on assets and inters paid on liabilities. D) resulted from a huge decrease in provisions for loan losses.

In a monopolistic competitive industry, short-run economic profit encourages entry of new firms until there are no economic profits in the long-run

a. True b. False Indicate whether the statement is true or false