Land, labor, and capital are bought and sold in the product market.
Answer the following statement true (T) or false (F)
False
Land, labor, and capital are bought and sold in the factor market.
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Suppose the market for Blu-rays has the demand and supply schedules shown in the table above. Suppose a decrease in the price of a Blu-ray player increases the quantity of disks demanded at each price by 20 million
What are the new equilibrium price and equilibrium quantity of Blu-rays?
State three major potential advantages of foreign direct investment for a developing country. State three major potential disadvantages
What will be an ideal response?
A public good is any good or service that users collectively consume and there is no way to bar free riders
a. True b. False Indicate whether the statement is true or false
In the vertical segment of the aggregate supply curve,
a. different levels of GDP correspond with high unemployment. b. competition among producers for already-employed resources can succeed only in lowering the economy's price level. c. full employment is achieved. d. producers are able to hire more workers at lower wages. e. increases in GDP are due solely to production gains.