When equilibrium GDP is greater than potential GDP, jobs are plentiful and labor is in great demand.
Answer the following statement true (T) or false (F)
True
You might also like to view...
Explain how the following will affect the supply curve of coffee
a) A fall in the wages paid to coffee workers b) An increase in the availability of high-yielding coffee plants c) A decrease in the quantity of land under coffee cultivation
Which of the following participants in the working of a firm are referred to as residual claimants?
A) workers B) managers C) entrepreneurs D) all of the above
The market structure in which the largest quantity of output is sold at the minimum possible price is:
a. monopoly. b. perfect competition. c. oligopoly. d. monopolistic competition. e. monopsony.
The "prisoner's dilemma" is a result of
a. differentiated products b. large number of participants c. game theory d. certain outcomes e. open market entry