The labor force includes individuals who are:
I. Employed
II. Unemployed
III. Discouraged workers
A) Both I and III B) I only C) Both I and II D) All I, II and III
C
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Refer to Figure 13-18. The diagram demonstrates that
A) in the long run, the monopolistic competitor produces the minimum-cost output level, Qa, but in the short run its output of Qb is not cost minimizing. B) it is possible for a monopolistic competitor to produce the productively efficient output level, Qa, if it is willing to lower its price from Pb to Pa. C) in the short run, the monopolistic competitor produces an output Qb but in the long run after it adjusts its capacity, it will produce the allocatively efficient output, Qa. D) it is not possible for a monopolistic competitor to produce the productively efficient output level, Qa, because of product differentiation.
When each individual has consistent preferences, but those of the community are not consistent, it is known as
A. agenda manipulation. B. majority rule. C. voting paradox. D. logrolling.
A weakness in the ________ study entitled The Limits to Growth is that it did not account for technological change.
A. the Club of Rome's B. the Fed's C. the European Union's D. the World Bank's
According to the theory of comparative advantage, a country
A. exports goods in which it has absolute advantage. B. imports the goods in which it has a comparative advantage. C. imposes tariffs on goods in which it does not have comparative advantage. D. exports the goods in which its has a comparative advantage.