If expectations are formed rationally, then individuals
A) will have a forecast that is 100% accurate all of the time.
B) change their forecast when faced with new information.
C) use only the information from past data on a single variable to form their forecast.
D) have forecast errors that are persistently low.
B
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Which of the following lists the three types of firms in the United States from smallest to largest in terms of volume of sales?
a. partnerships, sole proprietorships, corporations b. sole proprietorships, partnerships, corporations c. sole proprietorships, corporations, partnerships d. corporations, partnerships, sole proprietorships e. partnerships, corporations, sole proprietorships
A cartel finds it difficult to act as a monopolist because the products sold by each firm in a cartel are slightly differentiated
a. True b. False Indicate whether the statement is true or false