Peak efficiency _________ achieved under monopolistic competition.
Fill in the blank(s) with the appropriate word(s).
is not
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A person who previously had a full-time job has been paroled from prison and has applied for a job is considered
A) a reentrant. B) a job loser. C) a new entrant. D) not in the labor force.
In economics, the term "surplus" means an excess quantity supplied
a. True b. False Indicate whether the statement is true or false
Consumption is $5.5 trillion, investment is $1 trillion, government expenditures are $1.5 trillion, transfer payments are $.5 trillion, exports are $.75 trillion and imports are $1.25 trillion. What is GDP?
Assume an economy that is producing only one product. Output and price data for a three-year period are as follows. Answer the question on the basis of these data. year units of output price per unit 1 20 4 2 25 4 3 30 6 Refer to the above data. If year 2 is chosen as the base year, real GDP for year 1 is:
a) $25. b) $100. c) $20. d) $80.