If supply of a product increases and demand for the product decreases, equilibrium quantity will definitely change
Indicate whether the statement is true or false
FALSE
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The fraction of people who would like to be employed, but can't find work is called the:
A. average labor productivity rate. B. Participation rate C. inflation rate. D. unemployment rate.
Larry has a comparative advantage over his classmates in writing term papers if he:
A. always earns an A on his term papers. B. can write term papers faster than his classmates. C. has an absolute advantage in writing term papers. D. has a lower opportunity cost of writing term papers than his classmates.
The change in a firm's total cost from producing one more unit of a good or service is the firm's
A) average cost of production. B) explicit cost of production. C) marginal cost of production. D) implicit cost of production.
Which of the following is an allowable deduction?
A. Unreimbursed medical expenses that exceed 7.5% of AGI B. State and local income and property taxes C. Interest on qualified education loans up to a certain limit D. All of the answer options are correct.