David Ellwood suggests the explanation for low employment rates among poor families is Flawed Character
Indicate whether the statement is true or false
F
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If the demand for a good decreased, what would be the effect on the equilibrium price and quantity?
a. Price would increase, and quantity would decrease. b. Price would decrease, and quantity would decrease. c. Price would increase, and quantity would increase. d. Price would decrease, and quantity would increase.
Following the recession of 2001, there was a month in which employment and the unemployment rate both rose. Assuming the computations were correct, how is it possible for both to have increased?
Assume the price of gasoline doubles tonight and remains at that price for the next two years. Compared with the long-run price elasticity of demand for gasoline, the short-run price elasticity of demand for gasoline will be ________.
A. more variable B. higher C. lower D. the same
An increase in the market interest rate, other things equal, will _____
Fill in the blank(s) with the appropriate word(s).