Classical economists argue that all workers could have been employed during the Great Depression if they had been willing to accept falling wages
But President Hoover and his supporters recommended that hours be cut before wages which increased unemployment. Indicate whether the statement is true or false
True
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The figure above shows the marginal revenue and costs of a perfectly competitive firm. When the firm produces 170 units
A) marginal cost is less than marginal revenue. B) marginal revenue equals marginal cost. C) total revenue is less than total cost. D) total revenue equals total cost.
In the above figure, a change in quantity demanded with unchanged demand is represented by a movement from
A) point a to point e. B) point a to point b. C) point a to point c. D) None of the above represent a change in the quantity demanded with an unchanged demand.
The aggregate demand curve
a. represents the relationship between prices and quantities of all goods produced in an economy b. is derived from equilibrium conditions in the labor and money markets c. gives the equilibrium level of real GDP corresponding to a given price level d. is the sum of an economy's individual demand curves e. plots the interest rate as a function of output
The purchasing of at least twenty percent of a firm in another country or starting up a new enterprise in a foreign country is referred to as foreign direct investment (FDI).
Select whether the statement is true or false. A. True B. False