The Field Hypothesis (2003) suggests that production possibilities expanded during the depression years. Much of the resulting increase in potential went unrealized, though. This explains why potential output in 1942 was greater than expected
Indicate whether the statement is true or false
True
You might also like to view...
The rate of unemployment is calculated as the number of
A) people in the civilian labor force divided by the number of unemployed. B) employed workers divided by the number of unemployed workers. C) unemployed divided by the number of people in the civilian labor force. D) unemployed workers divided by the number of employed workers.
If expansion of an industry's output causes a downward shift of firms' average total cost curves,
a. each firm earns a long-run economic profit b. all of the following are correct c. there will be long-run economic profits d. it is a decreasing-cost industry e. it is an increasing-cost industry
A corporation is the most preferable type of firm if the investor wants to limit liability
a. True b. False Indicate whether the statement is true or false
Sam owns a candy factory and hires workers in a competitive labor market to pack cases of candy. The company's weekly output of cases of candy varies with the number of workers hired, as shown in the following table: Number ofworkersCases/week00116023103450458057006810 The marginal product of the fourth worker is ________ cases per week.
A. 130 B. 145 C. 140 D. 110