Economists consider cyclical unemployment to be the byproduct of a healthy economy
a. True
b. False
Indicate whether the statement is true or false
False
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A neighbor plants flowers in their front yard, which you can view and enjoy from your window. From your perspective, this is an example of
A. an externality. B. marginal analysis. C. property rights. D. an opportunity cost.
If the university administration plans to hike tuition charges in the hope of increasing tuition revenues, we know
A) they are assuming an elastic demand. B) they are assuming an inelastic demand. C) they cannot succeed because of the law of demand. D) they must be running in the red. E) they will only succeed if more students can be enrolled at no cost.
Total costs:
A. are fixed costs plus variable costs. B. include explicit and implicit costs. C. increases as the firm increases output. D. All of these are true.
As firms control more of an industry, it becomes more likely they can raise prices and harm consumers.
a. true b. false