Increases in population shift the market supply curve for labor to the right
Indicate whether the statement is true or false
TRUE
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In an eight-hour day, Andy can produce either 24 loaves of bread or 8 pounds of butter. In an eight-hour day, Bob can produce either 8 loaves of bread or 8 pounds of butter. Andy has a comparative advantage in the production of
A) bread, while Bob has a comparative advantage in the production of butter. B) butter, while Bob has a comparative advantage in the production of bread. C) bread and neither has a comparative advantage in the production of butter. D) both bread and butter.
In both New Zealand and Canada, what has happened to the unemployment rate since the countries adopted inflation targeting?
A) The unemployment rate increased sharply. B) The unemployment rate remained constant. C) The unemployment rate has declined substantially after a sharp increase. D) The unemployment rate declined sharply immediately after the inflation targets were adopted.
An enterprise that has only one shareholder does not constitute a corporation
a. True b. False Indicate whether the statement is true or false
When an investment project generates output that is valued more highly than the value of the resources required for its production,
a. undertaking the project will create wealth. b. it will generally be profitable to undertake the project if property rights are securely defined and enforced . c. entrepreneurs seeking profit will have little incentive to undertake such projects. d. both a and b are correct.