The market demand curve is ____ and the demand curve for a single firm in a competitive market is ____
A) horizontal, horizontal
B) downward sloping, horizontal
C) downward sloping, downward sloping
D) horizontal, downward sloping
B
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Argentina in 2001 faced a debt problem more serious than the U.S. debt problem because Argentina was obligated to repay its debt in
a. U.S. dollars. b. their own currencies. c. a relatively short period of time. d. large installments.
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.
If the Fed wanted to stimulate the economy to limit the effects of a recessionary gap, then it should ________ the federal funds rate in order to ________ the real interest rate and thereby ________ investment.
Fill in the blank(s) with the appropriate word(s).
The learning curve suggests that an individual will
A. have an income that falls over time. B. be subject to frequent spells of unemployment. C. gain experience and increase productivity over time. D. receive the same income throughout a career.