In the figure above, the natural unemployment rate is
A) 6 percent. B) 0 percent. C) 8 percent. D) 4 percent. E) 2 percent.
D
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In the short run, a perfectly competitive firm can experience which of the following?
i. an economic profit ii. an economic loss but it continues to stay open iii. an economic loss equal to its total fixed cost when it shuts down A) only i B) i and ii C) i and iii D) ii and iii E) i, ii, and iii
In part, a country's current account measures
A) its current debt as opposed to its long-term debt. B) borrowing and lending activity between the country's residents and foreigners. C) net increases and decreases in a country's holdings of foreign currency. D) receipts from the sale of goods and services to foreigners and payments for goods and services bought from foreigners.
If a perfectly competitive firm charges the market price of $14 per unit,
a. its marginal revenue is $14, and its average revenue is less than $14 per unit b. it will sell no output c. its average revenue is $14, and its marginal revenue is less than $14 per unit d. its average revenue is $14, and its marginal revenue is $14 e. its average and marginal revenue are $14 only for the first unit sold
Inputs for a business are the goods and services that it sells to its customers.
Answer the following statement true (T) or false (F)