If an economic curve has a negative slope, then one variable
a. falls as the other rises.
b. changes at a slower rate than another.
c. has a smaller value than another.
d. changes after another variable.
a
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Refer to the figure above. If this country is labor abundant, then according to the HO theory good X should be ________ intensive
A) capital B) labor C) both capital and labor D) Can't tell without more information
According to Gordon, there is no pressing need for policies to reduce ________ unemployment
A) cyclical B) structural C) turnover D) mismatch
All of the following are true for both competition and monopolistic competition in the long run, except one of them. Which is it?
a. P = MC b. P = AC c. Economic profits become zero in the long-run d. The barriers to entry and exit are relatively easy e. None of the above is an exception
Which of the following is not a question that macroeconomists address?
a. Why is average income high in some countries while it is low in others? b. Why does the price of oil rise when war erupts in the Middle East? c. Why do production and employment expand in some years and contract in others? d. Why do prices rise rapidly in some periods of time while they are more stable in other periods?