Cyclical unemployment is caused by fluctuations in economic activity.
Answer the following statement true (T) or false (F)
True
See the definition of cyclical unemployment in the textbook.
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If a firm produces five chairs with marginal costs of $25, $30, $40, $55, and $75, respectively, and sells them for $80 each, what is the firm's total producer surplus?
A) $400 B) $225 C) $175 D) $150 E) $80
Behavioral economics helps explain why customers ________ at J.C. Penney
A) responded negatively to both sales and coupons and the policy of everyday low prices B) were equally happy with sales and coupons and the policy of everyday low prices C) favored the policy of everyday low prices and not sales and coupons D) favored sales and coupons and not the policy of everyday low prices
A consumer's reservation price is the
A) amount she will pay for a hotel or airline reservation. B) minimum amount she will pay for a good or service. C) price that maximizes her surplus. D) maximum amount she will pay for a good or service.
By 2007, energy use per dollar of GDP was ____ percent of what it was in 1970
a. 95 b. 80 c. 75 d. 50