Which of the following statements about full employment is true?
A. Liberal economists insist that an unemployment rate of 4 percent constitutes full employment.
B. Conservative economists feel that an unemployment rate of 6 percent is a realistic portrayal of full employment.
C. Economists cannot agree on what constitutes full employment, thus 5% represents a reasonable compromise.
D. All of these choices are true.
D. All of these choices are true.
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Which of the following is an example of a financial capital?
A) A currency bill B) A check book C) A factory D) A bond
The principle that "as one input increases while the other inputs are held fixed, output increases at a decreasing rate" is known as the
A) marginal principle. B) principle of diminishing returns. C) principle of opportunity cost. D) spillover principle.
A firm's decision to expand the size of its production facility would be considered a short-run decision so long as the expansion can be completed in less than a year
Indicate whether the statement is true or false
"If the United States enters a war with Iran, U.S. output will go down." This statement is an example of
A. a positive statement. B. an irrational statement. C. a realistic statement. D. a normative statement.