Mallory Trammell is a homemaker. Last week, she was busy with her normal household activities. How will she be classified by the Bureau of Labor Statistics?
What will be an ideal response?
Not a member of the labor force.
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A transaction cost for buying a new tennis racket would include ______.
a. the other items that could have been purchased with the money b. an hour spent testing different rackets before buying it c. the price of a can of tennis balls to use with it d. the hours spent using the racket after the purchase
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.
To get at the large pool of oil embedded in porous rock deep below North Dakota, a process known as ________ is employed.
A. explosive mining B. compressive extraction C. chemical immersion D. hydraulic fracturing (fracking)
Monopolistically competitive firms have no benefits to consumers relative to perfectly competitive firms.
Answer the following statement true (T) or false (F)