Frictional unemployment is a "necessary" cost of a dynamic economy
a. True
b. False
Indicate whether the statement is true or false
True
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A baker can produce two products: cupcakes and pies. The table below is the baker's production possibilities schedule:Production Possibilities ScheduleProductABCDEFCupcakes01220365681Pies1086420Which of the following output-combinations is unattainable?
A. 2 pies and 48 cupcakes. B. 3 pies and 56 cupcakes C. 6 pies and 10 cupcakes D. 9 pies and 10 cupcakes
Suppose group price discrimination is possible; however, a firm sets the same price in each market. As a result,
A) price elasticity of demand is the same in each market. B) the price-inelastic market will buy zero units. C) marginal revenue in the more price-elastic market exceeds marginal revenue in the less price-elastic market. D) the deadweight loss is less than if the firm price discriminated.
Most of the taxes collected by governments tend to
a. remain fixed. b. move in the opposite direction from GDP. c. be sales taxes. d. rise and fall with the level of GDP.
The prices of telecommunications services have decreased due to productivity increases.
Answer the following statement true (T) or false (F)