A survey showed that in each of the past 12 months there was one person who was unemployed who worked in all other months. There were also two people who were unemployed for all 12 months. What percentage of the unemployment spells during the year was short term, and what percentage of the unemployment in a given month was long term?
a. 75% was short term; 33.3% was long term
b. 75% was short term; 66.7% was long term
c. 85.7% was short term; 33.3% was long term
d. 85.7% was short term; 66.7% was long term
d
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Why is it that the industry demand curve slopes downward when the demand curves faced by individual firms in perfectly competitive markets are horizontal?
What will be an ideal response?
With a monetary growth rule as proposed by the monetarists, during a recession the rate of growth of the money supply would
A) not change. B) increase. C) decrease. D) decrease or increase depending on economic conditions.
Average variable costs and average total costs are calculated by dividing by ________
a. revenue b. profit (P) c. output (Q) d. fixed costs (FC)
Explain how the “Buy American” theme hurts Americans.
What will be an ideal response?