Based on the classical view,
A. All goods produced are always purchased at an unchanging price.
B. Unemployment never occurs.
C. Cyclical unemployment might occur temporarily.
D. Persistent unemployment might be a problem.
Answer: C
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Higher input prices result in
A) upward shifts of MC and reductions in output. B) upward shifts of MC and increases in output. C) downward shifts of MC and reductions in output. D) downward shifts of MC and increases in output. E) increased demand for the good the input is used for.
Jose has one evening in which to prepare for two exams and can employ one of two possible strategies: The opportunity cost of receiving a 92 on the statistics exam is __________ points on the economics exam.
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In the long run, the monopolistically competitive firm's demand curve will
A) intersect the ATC at its minimum point. B) intersect the ATC curve somewhere past the minimum point. C) become tangent to the ATC curve at its minimum point. D) become tangent to the ATC curve somewhere to the left of its minimum point.
In the United States in 2017, women's wages were 79 percent of men's wages.
Answer the following statement true (T) or false (F)