The use of resources in the most productive way possible to produce the goods and services that have the greatest total economic value to society is called:
A. economic quantity.
B. innovation.
C. efficiency.
D. sustainability.
Answer: C
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Employment protection laws make it ________ for firms to hire people, which can result in a(n) ________ in the number of people who are structurally unemployed
A) more risky; increase B) more risky; decrease C) less risky; increase D) less risky; decrease
Other things remaining the same, if the expected future exchange rate rises, the demand curve for U.S. dollars shifts ________ and the supply curve of U.S. dollars shifts ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
The above figure shows the market for pizza. The market is in equilibrium when the cheese used to produce pizza falls in price. What point represents the most likely new price and quantity?
A) A
B) B
C) C
D) D
E) E
Which statement is true?
A. Discouraged workers are counted by the Bureau of Labor Statistics among the unemployed. B. If we counted the unemployed, the labor force would be much higher. C. The Bureau of Labor Statistics compiles the unemployment rate from its survey of state unemployment insurance offices. D. If the labor force grows while the number of unemployed stays the same, the unemployment rate declines.