Unemployment rates differ widely among various groups in the population
a. True
b. False
Indicate whether the statement is true or false
True
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If the supply curve and the demand curve both shift to the left, then the new equilibrium:
A. price will be lower, but the direction of the change in quantity is uncertain. B. quantity will be higher, but the direction of the price change is uncertain. C. price will be higher, but the direction of the change in quantity is uncertain. D. quantity will be lower, but the direction of the price change is uncertain.
When the Smiths were shopping for their present home, the asking price from the previous owner was $250,000.00. The Smiths had decided they would pay no more than $245,000.00 for the house
After negotiations, the Smiths actually purchased the house for $239,000.00. They, therefore, enjoyed a consumer surplus of A) $239,000.00. B) $5,000.00. C) $6,000.00. D) $11,000.00.
Patents function to
A. establish permanent monopolies. B. temporarily protect monopoly power. C. encourage firms to reduce output. D. reduce monopoly power.
In addition to China's recent growth, the economic crisis in the U.S. and Europe beginning in 2008 further undermined the influence of
a. transnational advocacy networks. b. the Washington consensus. c. the poverty line. d. late, late developers.