Perfect Competition is an industry in which there is only one supplier of a product that has no close substitutes
a. True
b. False
Indicate whether the statement is true or false
False
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Over the past 110 years, real GDP per person in the United States has grown at an average rate of about ________ per year
A) 1 percent B) 2 percent C) 5 percent D) 10 percent E) 7.5 percent
Suppose that a country has an inflation rate of about 3 percent per year and a real GDP growth rate of about 3 percent per year. How large of a deficit can the government run (as a percentage of GDP) without raising the debt-to-income ratio?
Most collective bargaining situations lead to strikes.
Answer the following statement true (T) or false (F)
Technological change is most likely to affect:
A. seasonal unemployment. B. cyclical unemployment. C. frictional unemployment. D. structural unemployment.