When the unemployment rate is less than the natural unemployment rate, real GDP is ________ potential GDP
A) greater than
B) unrelated to
C) not comparable to
D) equal to
E) less than
A
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Which factor of production is paid "profit"?
A) entrepreneurship B) human capital C) labor D) land E) capital
If a government pursues the industrial policy of import substitution, it is:
A. protecting domestic industries until they are efficient enough to compete in the world market. B. giving consumers incentive to substitute imported goods for those domestically produced. C. mandating that imports can only be sold if the domestic economy does not produce that particular good. D. encouraging domestic industries to ship imports to other countries.
When did NAFTA go into effect?
What will be an ideal response?
Explain the principal–agent problem in job performance and briefly describe actions that can be taken to correct the problem
What will be an ideal response?