If the unemployment rate has reached an all-time low, the production of output is probably
a. high
b. low
c. fluctuating
d. stable
e. inefficient
A
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The labor force participation rate is percentage of the ________ who are in the labor force
A) people under age 65 B) working-age population C) people over age 16 D) population
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we know that would both agree to terms of trade of one truck to:
A. two cars.
B. four cars.
C. six cars.
D. eight cars.
Whenever there is a shortage at a particular price, the quantity sold at that price will equal: a. the quantity demanded at that price
b. the quantity supplied minus the quantity demanded. c. the quantity supplied at that price. d. (quantity demanded plus quantity supplied)/2.
Since a monopoly faces a downward-sloping demand curve,
a. then, as Adam Smith wrote, "the price of monopoly is upon every occasion the highest which can be got." b. price always exceeds average revenue. c. marginal revenue increases as output increases. d. the monopolist is a price maker.