If the marginal product of labor is less than the average product of labor, then the average product of labor is increasing.
Answer the following statement true (T) or false (F)
False
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Which type of unemployment is the consequence of downturns in the business cycle?
A) structural B) expansionary C) cyclical D) natural E) frictional
The demand for science fiction novels is elastic. When prices decrease from $10 to $6.50 per novel, total revenue will
a. not change. b. decrease. c. increase. d. either increase or stay the same.
In the spot market, the spread is the difference between the bid and offer rates and is the trader's profit margin.
a. true b. false
In the Keynesian model, whenever planned saving exceeds planned investment
A. real GDP will not be influenced. B. the interest rate will remain unchanged. C. there will be unplanned inventory depletion. D. there will be unplanned inventory accumulation.