SInce 1950, the United States has experienced about 20 business cycles.
Answer the following statement true (T) or false (F)
False
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Average labor productivity is the
A. amount of machines per worker. B. amount of workers per machine. C. ratio of employed to unemployed workers. D. amount of output per worker.
The right answer to the debate regarding the welfare effects of advertising is that
A. advertising always improves the functioning of the market. B. advertising always leads to positive economic profits in an industry. C. advertising always leads to concentration in an industry. D. there is no right answer.
How does microeconomics differ from macroeconomics? Would the supply of iPhones in the United States be studied under microeconomics or macroeconomics? What about the growth rate of total economic output in the national economy?
What will be an ideal response?
Governmental rules that significantly promoted entrepreneurship first became prominent during the
a. Great Recession. b. Age of Enlightenment. c. Great Depression. d. Industrial Revolution.