In recent years, economists have come to rely more on the establishment survey rather than the household survey to analyze current labor market statistics
Indicate whether the statement is true or false
TRUE
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In the scenario above, the market is
A) a natural duopoly. B) a natural oligopoly with three firms. C) a natural monopoly. D) monopolistically competitive.
Keynes believed that prices and wages were rigid or fixed until the economy reaches ______.
a. equilibrium b. full employment c. recession d. expansion
What is the average fixed cost when output is 120 units in Figure 21.2?
A. $80.00. B. $0.67. C. $208.00. D. $96.00.
Which of the following is a flow in the circular flow model?
A) the flow of goods and services from households to firms B) the flow of profit and the flow of revenue C) the flow of income earned by firms and the flow of expenditures earned by households D) the flow of revenue received by firms and the flow of payments to resource owners