The production possibilities curve shows the different combinations of goods that can be produced with a set of given resources
Indicate whether the statement is true or false
T
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If the firm hires security guards to enforce a lockout, what are they implying?
a. They would always accommodate b. They would always bargain hard c. They would not accommodate d. Both B&C
A college student is thinking about running an ice-cream truck over the summer. Which of the following would likely be an ongoing expense of the business?
A. The cost of the truck B. The cost of the gasoline used C. The cost of ice cream scoopers D. None of these is an ongoing expense.
The economy of Alpha operates according to Okun's law. In Alpha, potential GDP equals $500 billion, actual GDP equals $520 billion, and the natural rate of unemployment is 5 percent. What is the actual rate of unemployment in Alpha?
A. 4 percent B. 7 percent C. 1 percent D. 3 percent
Does the threat of entry reduce the monopoly problem?
What will be an ideal response?