Which population category equals the sum of employed and unemployed people?
A) working-age population
B) labor force
C) young and institutionalized
D) not in the labor force
B
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
The expected value of litigation is the expected value of the gain from litigation for the ________ and the expected value of the loss from the litigation for the ________.
A) defendant; plaintiff B) plaintiff; defendant C) defendant; defendant D) plaintiff; plaintiff
A business can have more than two partners
Indicate whether the statement is true or false
When a profit-maximizing firm in a monopolistically competitive market is in long-run equilibrium,
a. the demand curve will be perfectly elastic. b. price exceeds marginal cost. c. marginal cost must be falling. d. marginal revenue exceeds marginal cost.