Full employment in the classical model is maintained by
A. flexible income.
B. flexible interest rates.
C. flexible prices.
D. flexible wage rates.
Answer: D
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Indicate whether the statement is true or false
In the Dred Scott decision (1857), the Supreme Court declared that:
a. Congress could not admit a free state without simultaneously admitting a slave state. b. slavery was not legal in the western territories. c. fugitive slaves were not legally protected from bounty hunters. d. Congress could not prohibit slavery in the western territories.
Choices must be made because of scarcity; people do not have enough time or money to get everything they want
a. True b. False Indicate whether the statement is true or false
Variable cost divided by the change in quantity produced is
a. average variable cost. b. marginal cost. c. average total cost. d. None of the above is correct.