Price elasticity of supply is used to gauge
A) how responsive suppliers are to a change in demand.
B) how responsive sales are to a change in input prices.
C) how responsive suppliers are to price changes.
D) how responsive suppliers are to changes in future prices.
C
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Official unemployment rates may underestimate the true rate of unemployment because the official rate
A) fails to include discouraged workers. B) does not include individuals receiving any type of unemployment compensation. C) may include some individuals who are not actually in the labor force. D) includes those workers who only work part time.
Which of the following people came close to abolishing scarcity in their regions some years ago?
A) Major Kwame Kilpatrick in Detroit B) President Bill Clinton in the U.S C) Governor Sarah Palin in Alaska D) All of the above. E) None of the above.
Indifference curve slopes upward from left to right because consumers always prefer more of a good to less
a. True b. False Indicate whether the statement is true or false
Which of the following characterizes stagflation?
A. A decrease in unemployment but an increase in inflation. B. An increase in both unemployment and inflation. C. An increase in unemployment but a decrease in inflation. D. A decrease in both unemployment and inflation.