From the beginning of the Great Recession in December 2007 until September 2013, the average duration of unemployment in the United States averaged
A) 13.5 weeks.
B) 22 weeks.
C) 31.3 weeks.
D) 41 weeks.
C
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Recall the Application. If consumer income in China increased and as a result the demand for pecans decreased, this would indicate that in China, pecans would be considered ________ goods
A) complementary B) normal C) substitute D) inferior
Pollution and depletion both occur because of poorly defined property rights
Indicate whether the statement is true or false
A person has an absolute advantage in producing a good if he can
a. produce it using fewer resources than another person b. produce it while sacrificing less than another person in terms of foregone output c. corner the market d. use other peoples' money to produce it e. work out some long term payment plan for financing the good
How can inventions such as cellular phones affect the government's antitrust policies?
(A) The technology causes the need for stricter regulation than before. (B) Government rules can allow higher charges than competition. (C) People using the technology do not want antitrust regulations. (D) They can mean that the need for regulation no longer exists.