A technological change would cause a shift of the demand curve for inputs.
Answer the following statement true (T) or false (F)
True
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Under President John F. Kennedy, the United States expanded its highway system, creating 50,000 miles of high-speed limited-access highway.
Answer the following statement true (T) or false (F)
The egalitarian principle says
A) that everyone should have exactly the same income. B) that the age-earnings cycle should determine income. C) that people should be compensated on the basis of what they produce. D) that people should be compensated on the basis of their need.
When a firm maximizes total product in the short run, average product is
A. negative. B. zero. C. positive. D. Any of the above can be correct.
If the United States' unemployment rate is 10 percent and the capacity utilization rate is 70 percent, the economy is in the midst of a ____________.
Fill in the blank(s) with the appropriate word(s).