If production technological interdependency exists, the ________ integration of the successive production stages ________ production costs.
A) vertical; increases
B) vertical; can reduce
C) horizontal; can reduce
D) horizontal; doubles
B) vertical; can reduce
Economics
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How does the elasticity of demand influence the incidence of a tax, the tax revenue, and the deadweight loss?
What will be an ideal response?
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The unemployment rate is calculated as follows:
A) labor force/number of unemployed. B) labor force participation rate/number of unemployed. C) number of unemployed/labor force. D) number of employed/labor force.
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Excluded from the GDP are
a. military services. b. postal services. c. medical services. d. non monetary transactions.
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The United States has, by far, the largest national debt as a percentage of its GDP among industrialized nations.
a. true b. false
Economics