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Which of the following statements is true?
a. economic profit equals accounting profit minus implicit costs
b. the short run is any period of time in which there is at least one fixed input
c. a fixed input is any resource for which the quantity cannot change during the period under consideration
d. in the long run there are no fixed costs
e. all of these.
Equilibrium and Disequilibrium In physical sciences, equilibrium is a state of balance between opposing forces or actions. The meaning of equilibrium in economic theory is exa
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The Pigou effect: A) suggests that as prices fall and real money balances rise, consumers should feel less wealthy and spend less. B) suggests that as prices fall and real mo
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n 2013, approximately 58 percent of the adult population (245 million) was employed, the lowest employment rate in 20 years. If the employment rate increased to the prerecession l
definition and charactoristics of index numbers.problems while constructing index numbers
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what is meant by PPF?
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