At the equilibrium level of real GDP, which of the following is true?
A. Unplanned inventory investment is positive.
B. Unplanned inventory investment is negative.
C. Aggregate output equals aggregate expenditures.
D. Aggregate output plus consumption spending equals aggregate expenditures.
Answer: C
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The supply of lettuce in the short run will be ________ than the supply in the long run and ________ than the supply today
A) more elastic; less elastic B) more elastic; more elastic C) less elastic; more elastic D) less elastic; less elastic
If more insurance companies decide to cover part of the price of voluntary laser eye surgery and more doctors decide to enter the field of laser eye surgery, what will happen in the market for laser eye surgery as a result of these two factors?
A) Demand and supply will both increase. B) Demand will increase, but these two factors will not shift the supply curve. C) Supply will increase, but these two factors will not shift the demand curve. D) Demand will increase and supply will decrease.
Assume a lawyer signs a contingency fee contract with a plaintiff. The case ends up settling for $1 million, of which the plaintiff received $800,000. It is obvious this contract was efficient
A) True, the plaintiff received some money. B) False, it is not clear whether another lawyer would have settled for more. C) False, it is not clear whether the plaintiff's lawyer is very smart. D) True, the plaintiff and lawyer reached an agreement and both lived up to their end of the agreement.
List the three major human resource problems in developing nations.
What will be an ideal response?