Both President Bush and President Obama wanted tax cuts to stimulate consumer spending during the 2007-2009 recession
a. True
b. False
Indicate whether the statement is true or false
True
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The country with a comparative advantage in the production of a good has a
A) vertical production possibilities frontier. B) higher opportunity cost of production. C) horizontal production possibilities frontier. D) linear production possibilities frontier. E) lower opportunity cost of production.
Firm A is a monopoly because of network effects, whereas Firm B is a natural monopoly. Which of the following statements is likely to be true in this context?
A) The average total costs of both firms decrease as they increase their output. B) The value of the product that both firms produce increases with an increase in the number of buyers. C) Firm A enjoys a monopoly status because its average total cost decreases with increase in output, whereas Firm B enjoys a monopoly status because the value of its product increases as more consumers buy it. D) Firm B enjoys a monopoly status because its average total cost decreases with increase in output, whereas Firm A enjoys a monopoly status because the value of its product increases as more consumers buy it.
The unemployment rate for people with less education typically is ________________ than for those with higher levels of education.
a. lower b. longer c. higher d. shorter
Discuss the historic increases and decreases in unionism in the United States and how it affects current labor relations today