If a firm is in the short run,
a. all its resources are variable.
b. it is planning its output for six months.
c. it is not possible for a firm to be efficient.
d. at least one of the firm’s resources cannot be varied.
d. at least one of the firm’s resources cannot be varied.
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Which of the following decreases the natural unemployment rate?
A) higher oil prices B) a recession C) a decrease in aggregate demand so that fewer workers are needed D) many young people entering the labor force E) rapid technological change that increases the demand for labor
A decrease in the price level causes a lower equilibrium quantity demanded
a. True b. False Indicate whether the statement is true or false
Nondiscretionary fiscal policy
A. entails legislative changes in government spending or taxes to stabilize the economy. B. include changes in tax rates designed to reduce unemployment. C. is the culprit whenever the federal government runs a budget deficit. D. involves changes in spending and taxes that occur automatically as economic conditions change.
What factors explain why there has been a decline in the political support for agricultural subsidies in recent years?
What will be an ideal response?