Examlex
PPP is relevant only in the long run.
Price-taker Industry
An industry in which individual firms have no control over the price of their product and must accept the market price set by the forces of supply and demand.
Price-taker Industry
An industry in which individual firms have no control over the price of their product; they "take" the market price as given.
Long-run Equilibrium
A state in which all factors of production and costs are variable, and firms no longer have any incentives to enter or exit the market, resulting in an optimal allocation of resources.
Q3: If monetary policymakers overestimate the level of
Q22: Quantitative easing occurs when the central bank
Q24: Real-business-cycle theorists have argued that changes in
Q28: One reason the dollar depreciated against the
Q30: The pound/dollar exchange rate is ¾ pound
Q33: Your favorite beer in the world is
Q41: G in the aggregate demand equation represents<br>A)
Q59: If the monetary authority wants to mitigate
Q69: A central bank cannot target money supply
Q126: The deposit multiplier is inversely related to