The demand for orthodontists' services falls as the proportion of the population that obtains braces falls. It may take several years before the new long-run equilibrium for the orthodontic labor market is attained
In the meantime, the orthodontic labor market experiences a A) shortage.
B) quality decrease.
C) surplus.
D) excess demand.
C
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Data show that in 2012, the college enrollment in Lithasia increased. In the same year, the sale of hotdogs in Lithasia also increased. The relationship between college enrollment and the sale of hotdogs exhibits:
A) a negative correlation. B) a zero correlation. C) a positive correlation. D) a causal relationshi
Consumption spending is $16 million, planned investment spending is $4 million, unplanned investment spending is $2 million, government purchases are $6 million, and net export spending is $1 million. What is aggregate expenditure?
A) $22 million B) $26 million C) $27 million D) $29 million
The World View article titled "The Education Gap between Rich and Poor Nations" says that a greater percentage of people graduate from high school in rich nations than in poor nations. This investment in human capital can lead to
A. Lower labor quality. B. Lower productivity. C. Increased output per worker. D. A bigger capital stock.
An efficient economy is one that produces what consumers demand and does so at the least possible cost.
Answer the following statement true (T) or false (F)