"Depression means idleness. And idleness means loss of skills, loss of self-respect, plummeting morale, family disintegration, and sociopolitical unrest." This quote describes some of the:
natural rate of unemployment
b. Consequences of the hyperinflation that accompanies a recession
c. Characteristics of structural unemployment
d. Noneconomic costs of unemployment
d. Noneconomic costs of unemploymen
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If a firm's fixed cost exceeds its total revenue, the firm should stop production by shutting down temporarily
Indicate whether the statement is true or false
Decisions have history. The _________ Model shows the importance of reference groups
a. Re-invent b. Elbing c. Chain d. Central-satellite
In long-run equilibrium, the typical perfectly competitive firm will:
a. earn zero economic profit. b. change plant size in the long run. c. change output in the short run. d. do any of these.
Who most clearly gains from a tariff on imports?
a. Consumers in the importing country b. Producers in the exporting country c. The government in the exporting country d. Producers in the importing country