Economists consider rent seeking activity to be highly productive
a. True
b. False
Indicate whether the statement is true or false
False
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If real interest rates decrease, we generally expect
A. saving to increase. B. saving to decrease. C. consumption spending to decrease. D. no significant change in saving.
A constant-cost industry is one that can expand and contract without effecting per unit production costs
a. True b. False
The time it takes to identify and examine the nature and seriousness of an economic problem is the _____
a. activity lag b. decision-making lag c. effectiveness lag d. implementation lag e. recognition lag
If a minimum wage law is passed imposing a price floor above the equilibrium price of unskilled labor and employers increasingly used efficiency wages, it would ___ unemployment and ____ the natural rate of unemployment: a. Increase; increase
b. Increase; not change. c. Not change, increase. d. Do none of the above.