The top of the supply chain contains ________ and is referred to as the ________ end of the chain.
A) finished goods; downstream
B) finished goods; upstream
C) raw materials; upstream
D) raw materials; downstream
C) raw materials; upstream
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In September 2014, the official U-3 unemployment rate dropped from 6.1 percent to 5.9 percent. This change could have been caused by
A) unemployed workers giving up looking for a job. B) part-time workers getting a full-time job. C) full-time workers becoming part-time workers. D) workers who had previously given up looking for a job starting to look again.
According to Keynes, the most important determinant of an individual's real saving is
A) interest rates. B) the foreign exchange rate. C) the individual's real disposable income. D) the level of investment.
Which answer ranks the elasticities of supply from highest to lowest?
a. market-day, short-run, long-run b. short-run, long-run, market-day c. long-run, short-run, market-day d. short-run, market-day, long-run e. long-run, market-day, short-run
Refer to the graph shown.
The graph demonstrates Saudi Arabia's and the United States' production possibility curves for widgets and wadgets. Given these production possibility curves, you would suggest that:
A. No trade should take place. B. Both countries should produce an equal amount of each. C. Saudi Arabia specialize in widgets and the United States in wadgets. D. Saudi Arabia specialize in wadgets and the United States in widgets.