Highway and home construction had a boom from
A. 1925-1940.
B. 1935-1950.
C. 1945-1960.
D. 1965-1980.
C. 1945-1960.
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If a large number of people are classified as being out of the labor force when they are really looking for work, this will lead to an official unemployment rate that is lower than the true unemployment rate
Indicate whether the statement is true or false
Consider the market for bicycles. If a dealer cuts prices by 10 percent and sells 20 percent more bikes, then demand for bicycles is:
a. inelastic, and total revenue will increase. b. elastic, and total revenue will increase. c. inelastic, and total revenue will decrease. d. elastic, and total revenue will decrease. e. unit elastic, and total revenue will remain the same.
Leakages cause diversion of income from the domestic spending stream
a. True b. False Indicate whether the statement is true or false
In the long run, the movement of firms into and out of a perfectly competitive market will influence price by
a. shifting the market demand curve b. shifting the market supply curve c. making the market supply curve less elastic d. making the market demand curve less elastic e. shifting the supply curve for each firm in the market