Assume an economy experiences, for a given period, a 1% increase in output and a 5% increase in productivity. Given this information, we know that which of the following occurred for this economy during this period?
A) The unemployment rate increased during this period.
B) The unemployment rate decreased during this period.
C) The unemployment rate did not change during this period.
D) The effects on the unemployment rate are ambiguous.
E) none of the above
A
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Refer to Figure 9.2. A movement from point c to point a could be caused by a(n)
A) decrease in government spending. B) increase in the price of oil. C) decrease in taxes. D) decrease in short-run aggregate supply.
A public franchise gives the exclusive right to produce a product for 20 years from the date the product is invented
Indicate whether the statement is true or false
Tuesday also turns out to be the busiest day for ___________ ticket sales and the __________ of the workweek.
Fill in the blank(s) with the appropriate word(s).
A group of firms that try to work together to earn monopoly profits is called a(n)
A. monopolistic merger. B. public enterprise. C. natural monopoly. D. cartel.