Answer the following questions true (T) or false (F)
1. In recent years, economists have come to rely more on the establishment survey rather than the household survey to analyze current labor market statistics.
2. The labor force participation rates of men have gradually increased since 1948.
3. Eliminating frictional unemployment would be good for the economy.
1. TRUE
2. FALSE
3. FALSE
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The concept of a risk premium applies to a person that is
A) risk averse. B) risk neutral. C) risk loving. D) all of the above
An agricultural price support is an example of a price ceiling
Indicate whether the statement is true or false
A price ceiling represents
A. a minimum price that can be legally charged for a good or service. B. a first come, first served mechanism for controlling prices. C. a maximum price that can be legally charged for a product or service. D. a lottery imposed upon producers by the government.
The flexibility of a firm's techniques of production is an important determinant of its costs.
Answer the following statement true (T) or false (F)