The Bureau of Labor Statistics' U-1 measure of joblessness is larger than its U-6 measure of joblessness
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is true of the demand curve and the marginal revenue curve of a monopolist?
A) Both curves have the same intercept on the price axis. B) The demand curve is downward sloping while the marginal revenue curve is upward sloping. C) The intercept of the demand curve on the price axis is higher than the intercept of the marginal revenue curve. D) The intercept of the demand curve on the price axis is lower than the intercept of the marginal revenue curve.
At that amount of output where diminishing marginal returns first sets in
A) total product will begin to decline. B) average product will begin to decline. C) marginal product will begin to decline. D) all of the above
Refer to Figure 16-1. An increase in taxes would be depicted as a movement from ________, using the static AD-AS model in the figure above
A) C to D B) E to B C) B to C D) A to B E) B to A
The supply of oil is likely to be
a. inelastic in both the short run and long run. b. elastic in both the short run and long run. c. elastic in the short run and inelastic in the long run. d. inelastic in the short run and elastic in the long run.