Economic profit accounts for both implicit and explicit costs.
Answer the following statement true (T) or false (F)
True
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The use of computers to speed up the banking system's processing of checks explains why monetarists believed that
a. output increases as the price level increases b. the money supply affects output c. the velocity of money has increased since the 1950s d. the changes in money supply and changes in velocity are interdependent e. fiscal policy can fine tune an economy
Unemployment data are collected
a. from unemployment insurance claims. b. through a regular survey of about 60,000 households. c. through a regular survey of about 200,000 firms. d. All of the above are correct.
The U.S. poverty rate for:
A. Hispanics is higher than that for African Americans. B. children under 18 years of age is higher than for the overall population. C. African Americans has increased since 1993. D. foreign-born individuals who are not citizens is below the poverty rate for the general population.
Economists define the long run as any production time period lasting over one year
a. True b. False Indicate whether the statement is true or false