Elasticities measure how responsive buyers and sellers are to ______.
a. overproduction
b. deadweight losses
c. price changes
d. product quality
c. price changes
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The best way to ensure that the sales agents are working in the firm's best interests is to
a. Tell the agent what he should be doing b. Provide the agent an incentive to work in your best interest c. Force the agent to work in your best interest d. Fire the agent
Many economists challenged the idea of passive government involvement in the economy following the inflation of the 1970s and early 1980s, and the recessions of 1974-1975 and 1980-1982.
Answer the following statement true (T) or false (F)
Unemployment is defined as
A. A decrease in the labor force. B. The active search and inability of labor force participants to find jobs. C. The proportion of the total population that is unemployed. D. The active search and inability of citizens to find jobs that utilize their capabilities.
Inflation will
A) increase aggregate demand. B) increase the quantity of real GDP demanded. C) decrease aggregate demand. D) decrease the quantity of real GDP demanded.