Which of the following is true for a competitive buyer?
A) AE = ME
B) AE > ME
C) AE < ME
D) AE greater than or equal to ME
A
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International evidence on the relationship of per capita income and the saving rate suggests that ________
A) a high level of income per person requires a high saving rate B) a high saving rate guarantees a high level of income per person C) a high saving rate might result in a high level of income per person D) a high saving rate requires a high level of income per person
A drop in the demand for soybean meal in China would
A. decrease the total demand for soybeans. B. decrease the price of soybeans. C. increase the quantity of soybeans. D. Both A and B are correct.
Structural unemployment:
A. is also known as frictional unemployment. B. is the main component of cyclical unemployment. C. is said to occur when people are waiting to be called back to previous jobs. D. may involve a locational mismatch between unemployed workers and job openings.
The government is able to alter the outcome of the three basic economic questions (what? how? and for whom?) by ______________, _________________, and ___________.
Fill in the blank(s) with the appropriate word(s).