If a Child Can Talk About the Past, the Present

question 337

Multiple Choice

If a child can talk about the past, the present, and the future, they have mastered the rules of:

• A) pragmatics.
• B) syntax.
• C) grammar.
• D) semantics.

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Definitions:

Industry's Short-run

A period in which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust to changes in market demand.

General Equilibrium

A state in which all parts of the economy (supply, demand, prices) are in balance and all markets are at equilibrium.

Market Equilibrium

A situation in which market supply and demand balance each other, and as a result, prices become stable.

Pareto Optimality

A state of allocation of resources in which it is impossible to make any one individual better off without making at least one individual worse off.