In the short run, a perfectly competitive firm ________ make an economic profit and ________ incur an economic loss
A) might; will never
B) will never; might
C) might; might
D) will never; will never
E) will definitely; will never
C
Economics
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The equation of exchange states that the quantity of money
A) multiplied by the velocity of circulation equals nominal GDP. B) divided by price level equals real GDP. C) multiplied by nominal GDP equals the price level. D) divided by nominal GDP equals real GDP.
Economics
According to the liquidity premium theory of the term structure, a steeply upward sloping yield curve indicates that short-term interest rates are expected to
A) rise in the future. B) remain unchanged in the future. C) decline moderately in the future. D) decline sharply in the future.
Economics