Specialization and division of labor are made easier by the existence of money.
Answer the following statement true (T) or false (F)
True
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Refer to Table 4-6. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units. What is the value of producer surplus?
A) $600 thousand B) $300 thousand C) $150 thousand D) $30 thousand
The unemployment rate measures the: a. number of people in the labor force divided by the adult population
b. percentage of people in the labor force who are unemployed. c. percentage of people in an economy who have dropped out of the labor force. d. number of people in the adult population who are looking for work. e. number of people in the labor force who are not working.
One subject of study for macroeconomics is
A. perfect competition. B. economic growth. C. monopoly. D. the shape of an individual's demand curve.
A dominant strategy is one that:
A. maximizes profits. B. is optimal under some conditions. C. never yields a negative payoff. D. is the best choice under all conditions.