The idea that additional spending on research and development will produce additional knowledge that may further increase the productivity of capital is an argument used by some economists to claim that knowledge is subject to ________ returns

Inside lags are

A) longer for fiscal policy than for monetary policy. B) the same for fiscal policy and monetary policy. C) more variable for monetary policy than for fiscal policy. D) longer for monetary policy than for fiscal policy.

In the long run in a perfectly competitive industry

A) opportunity costs are negligible. B) economic profits will be zero. C) some firms will be experiencing economic losses. D) only entrepreneurs will earn more than their opportunity costs.