Aggregate demand will be affected by the purchasing power of money
Indicate whether the statement is true or false
TRUE
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Which of the following was one the key factors sending the economy into the Great Recession?
a. declining home prices and rising foreclosure rates b. declining interest rates and declining lending c. declining labor participation rates and rising retirement rate d. none of the above were reasons for the Great Recession
Place point C on the graph to indicate where the United States economy operated in 1997.
Collusive control over price may permit oligopolists to:
A. use new technology, achieve economies of scale, and get government subsidies. B. achieve economies of scale, reduce costs, and prevent price cheating. C. reduce uncertainty, increase profits, and possibly limit entry of new firms. D. increase product demand, increase product supply, and lower cost.
Gino's Pizza shop hires workers in a competitive market to make pizza. The ingredients required to make each pizza cost $5. Daily output at Gino's Pizza varies with the number of workers hired, as shown in the table: Number of workersPizzas/day00116236354470584696 If the pizzas sell for $10 each, and the competitive market wage is $75 per day, Gino will hire ________ workers and produce ________ pizzas per day.
A. 5; 84 B. 3; 54 C. 4; 70 D. 2; 36