If more people find jobs, the unemployment rate will definitely fall
a. true
b. false
Ans: b. false
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An addition of spending to the circular flow of income is
A. A surplus. B. Household taxes. C. An injection. D. A leakage.
Recall the Application about the use of fertilizer and its impact on crop yields to answer the following question(s). The table is taken from this Application.
Bags of Fertilizer Bushels of Corn0851120213531444147Refer to the table above. After applying the second bag of fertilizer, the farmer experienced:
A. increasing returns. B. diminishing returns. C. constant returns. D. negative returns.
The four-firm concentration ratio for the market depicted in Table 8.1 is:
A. 10%. B. 40%. C. 82%. D. 92%.
Domestic demand for a good is QD = 3000 - 25P. The domestic supply of the good is QS = 20P. Foreign producers can supply any quantity at a price (P) of $30
a. What is the domestic equilibrium price and quantity? b. At this domestic equilibrium price, how much of the good will be supplied by domestic producers and how much by foreign producers?