When demand falls and supply stays the same, equilibrium price ______ and equilibrium quantity ________.
Fill in the blank(s) with the appropriate word(s).
falls; falls
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Structural unemployment results when the number of jobs is insufficient for the number of workers
a. True b. False Indicate whether the statement is true or false
Which of the following is not a common resource?
a. clean air b. clean water c. open grazing land d. national defense
David Ricardo's model, which provided an explanation of why nations trade, was based on:
a. labor productivity. b. technology. c. population. d. government control
Related to the Economics in Practice on page 374: Considerable evidence suggests that recently in the United States, executive compensation has ________ and the real wage of the average worker has ________.
A. remained stagnant; decreased B. increased; decreased C. decreased; increased D. increased; remained stagnant