If the economy is at full employment,
A) the only unemployment is frictional unemployment plus discouraged workers.
B) all unemployment is cyclical and structural.
C) real GDP equals potential GDP.
D) the entire labor force is employed.
E) the entire population is employed
C) real GDP equals potential GDP.
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You own two different energy drink brands: "Blue Cow" and "600 minute energy.". If you reduce the price on "Blue Cow", a. Sales of "Blue Cow" would increase, without any changes in sales for "600 minute energy."
b. Sales of both "Blue Cow" and "600 minute energy.". would increase c. Sales of "Blue Cow" would increase, but the sales of "600 minute energy" would be cannibalized d. Neither "Blue Cow" nor "600 minute energy" would see an increase in sales.
The theorem that suggests that politicians maximize their votes by taking the policy position preferred by the median voter, under certain conditions is called the:
A. average voter theorem. B. mid-voter theorem. C. median-voter theorem. D. moderate vote theorem.
The federal income tax is progressive because the tax rates increase at higher income levels
a. True b. False Indicate whether the statement is true or false
Which of the following are illegal under the antitrust laws of the United States?
a. charging prices that exceed average total costs b. charging some consumers different prices than others c. mergers that unnecessarily create excessively large firms d. collusive behavior or other actions designed to create a monopoly or cartel