The stable, long-run equilibrium in a competitive market occurs when the market price equals the lowest point on a firm's average total cost curve
a. True
b. False
Indicate whether the statement is true or false
True
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Discouraged workers are included in the calculation of the
i. unemployment rate. ii. labor force participation rate. iii. working-age population. A) i only B) ii only C) i and ii D) iii only E) ii and iii
The Employment Act of 1946 continues to impact us today. It gives the federal government official responsibility in managing full-employment efforts in the U.S. through fiscal policy
Indicate whether the statement is true or false
Typically, the budget deficit is financed by simply printing money
a. True b. False Indicate whether the statement is true or false
If the government wanted a tax to not burden consumers much, it would want to tax an industry with:
a. elastic supply and demand curves. b. inelastic supply and demand curves. c. inelastic supply and elastic demand. d. elastic supply and inelastic demand.