The greater the elasticities of supply and demand, the smaller are the gains from trade
a. True
b. False
Indicate whether the statement is true or false
False
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If the minimum wage is set above the market wage,
A) highly-skilled workers will have a harder time finding jobs. B) the quantity of labor supplied will be below the quantity of labor demanded. C) unemployment will rise. D) All of the above are correct.
According to the New Classical theory, why may output differ from its full-employment level in the short run?
What will be an ideal response?
The four factor payments are: # randomize
a. Money, capital, salaries, and income b. Wages, rent, interest and profits c. Money, power, prices and wealth d. Wages, interest, salaries and income
When commercial banks extend loans, they are able to expand the supply of money in the United States because the U.S. has
What will be an ideal response?