Structural unemployment results from a lack of education and training
a. True
b. False
Indicate whether the statement is true or false
True
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Based on the figure above, if the firm produces 10 cans per day, the firm ________ maximizing its profit and is ________
A) is; incurring an economic loss B) is; making zero economic profit C) is; making an economic profit D) is not; incurring an economic loss E) is not; making zero economic profit
Suppose the production function for T-shirts can be represented as q = L0.25K0.75. When K = 1 and q = 2, what is the slope of the isoquant? If there is insufficient information to answer the question, describe what information is needed
What will be an ideal response?
Advocates of a tax on soda and other sugary drinks argue that such a tax
a. may encourage better nutrition. b. will protect our future selves from the long run negative effects of consuming these drinks. c. is needed because people tend to behave inconsistently over time. d. All of the above are correct.
When production costs fall,
a) the aggregate-demand curve shifts to the right. b) the short-run aggregate-supply curve shifts to the right. c) the short-run aggregate-supply curve shifts to the left. d) the aggregate-demand curve shifts to the left.