The relationship between prices and the corresponding quantities supplied is shown in a:

a. supply schedule.
b. demand schedule.
c. price-earnings ratio.
d. production possibilities curve.
e. total output schedule.

a

Economics

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Any test of rational expectations is a joint test of the underlying model that expectations are formed rationally.

Answer the following statement true (T) or false (F)

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Which of the following can best explain the clustering of some industries, such as banking and finance in New York City and high-technology computer production in Silicon Valley?

A. Perfect competition B. External scale economies C. Comparative advantage D. Intra-industry trade

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