According to economist Robert Gordon, major innovations in the United States have been concentrated in ________ waves of growth

The price of a stock is equal to the present value of expected future dividend payments from the stock

Indicate whether the statement is true or false

A firm's "normal profit" is best characterized by the

A) average of a firm's profits over the past five years. B) amount of profit necessary to keep the price of a firm's stock from changing. C) amount of profit a firm could earn in its next best alternative activity. D) the average amount of profit earned in the firm's industry.