Labor supply curves are always upward sloping
a. True
b. False
Indicate whether the statement is true or false
False
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When access to a common property is unrestricted, why does the resulting social gain fail to be as large as possible? How can an entrance fee increase social gain in this situation?
What will be an ideal response?
Which of the following is NOT one of the determinants of the gains of adopting a single currency?
A) A well-synchronized business cycle involving all member countries B) The possibility of factors of production to freely move across borders C) The willingness and ability of member countries to design policies to address regional imbalances that may develop D) Widening the common market by allowing other countries to join E) None of the above.
Regarding forecasting, which of the following statements is NOT true? a. Operations managers need sales forecasts to plan future production
b. Financial managers need estimates of future sales revenues, disbursements & capital expenditures in order to plan effectively. c. Forecasts of credit conditions are needed to plan the cash needs of the firm. d. Public administrators and managers of NFP corporations need not forecast, since they need not make a profit. e. Both c and d are false.
Because of the slope(s) of the ________, we can say that a decrease in the price level leads to a higher level of real GDP demanded
A) aggregate demand curve B) short-run aggregate supply curve C) long-run aggregate supply curve D) short-run and long-run aggregate supply curves