People end unemployment when they
A) are laid off.
B) quit work to go to school.
C) retire from a job.
D) are recalled from a layoff.
E) quit work to raise a family.
D) are recalled from a layoff.
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A large number of firms in Richland sell energy drinks. However, each firm faces a downward sloping demand curve. The market for energy drinks in Richland is an example of a(n) ________
A) perfect competition B) monopolistic competition C) monopoly D) oligopoly
How is it possible for the economy to have an inflationary gap?
a. Equilibrium is at a GDP level below full employment. b. Equilibrium is at a GDP level equal to full employment. c. Equilibrium is at a GDP level above full employment. d. GDP is rising at full employment. e. GDP is falling at full employment.
A firm's profit can be calculated by subtracting its total revenue from its total costs
a. True b. False Indicate whether the statement is true or false
During the Great Depression, the United States economy operated ______________ the production possibilities frontier.
Fill in the blank(s) with the appropriate word(s).