Someone unemployed for a long period of time due to technological change would be described as structurally unemployed
a. True
b. False
Indicate whether the statement is true or false
True
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Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price increases from $10 to $12 is
A. -1.37. B. -0.33. C. -1. D. -3.29.
Gary Franklin is a movie critic. He invented the Franklin Scale with which he rates movies from 1 to 10 (10 being best). When asked about his scale, Mr. Franklin explained "that it is a subjective measure of movie quality
A movie with a ranking of 10 is not necessarily 10 times better than a movie with a ranking of 1, but it is better. A movie with a ranking of 5 is better than a movie with a ranking of 1, but is not as good a movie with a ranking of 10. That's all it really tells you." Based on Mr. Franklin's description, his scale is: A) ordinal but not cardinal. B) cardinal but not ordinal. C) an objective standard to judge movies. D) neither cardinal nor ordinal.
If marginal cost is below average total cost, average total cost will
A) be maximized. B) be decreasing. C) be increasing. D) remain constant.
Which of the following is necessary for the economy to be in equilibrium?
a. Income must be greater than output. b. Income must be less than output. c. Aggregate expenditure must equal output. d. Aggregate expenditure must equal investment.