If cyclical unemployment is negative, then
A) the actual unemployment rate is below the natural rate of unemployment.
B) the natural rate of unemployment is getting smaller.
C) there have been some errors in classifying the type of unemployment experienced by some people.
D) structural unemployment must be increasing.
A
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Which of the following is an example of a product that is excludable and nonrival?
A) a motorcycle B) the court system C) Western lowland gorillas D) a NASCAR event
List factors that increase the price elasticity of supply
What will be an ideal response?
An increase in the quantity of a product supplied is caused by an increase in the price of the product
Indicate whether the statement is true or false
If a profit-maximizing firm’s fixed cost of producing widgets falls,
A. its total cost curve is unaffected. B. its marginal cost curve shifts down. C. the firm will produce more widgets. D. the firm’s average profit per widget produced rises.