________ of unemployment during ________ make it easier for workers to ________ wages
A) Low levels; an expansion; negotiate higher B) High levels; an expansion; accept lower
C) High levels; a recession; negotiate higher D) Low levels; a recession; accept lower
A
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Assuming that Yd = $20,000 and C = $22,000, we would find that the average propensity to consume would be equal to
A) 0.8. B) 1.8. C) 1.1. D) 0.9.
What is the relationship between real interest rates and investment, other things being equal?
a. No apparent relationship b. A quadratic relationship c. A positive relationship d. A negative relationship
GDP overstates the productive capacity of a country when:
A. economic bads like pollution are produced and then must be cleaned up. B. there is a sizable underground economy. C. nonmarket production represents a large portion of the economy. D. working conditions improve, allowing jobs to be completed safer and faster.
A monopolistically competitive firm is producing 50 units of output in the short run where marginal cost is $3.00, average total costs are $5.00, price is $4.50, average variable cost is $4.00, and marginal revenue is $3.00. How much profit is the firm
making? What output recommendation would you make for the firm? What will be an ideal response?