Refer to the graphs. Growth of production capacity is shown by:
A. the shift from AB to CD only.
B. the shift from X to Y only.
C. both the shift from AB to CD and the shift from X to Y.
D. both the shift from AB to CD and the shift from Y to X.
C. both the shift from AB to CD and the shift from X to Y.
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The existence of discouraged workers: a. increases the size of the labor force, but does not affect the unemployment rate
b. affects neither the size of the labor force nor the unemployment rate. c. may cause the official unemployment rate to understate the true amount of unemployment. d. may cause the official unemployment rate to overstate the true amount of unemployment.
In the distribution of corporate profits, which of the following groups has first preference?
a. common stockholders b. preferred stockholders c. board of directors d. bond holders e. convertible stock holders
A contestable market is a market in which there are one or a few firms and entry into the market is not costly
Indicate whether the statement is true or false
If an increase in income leads to a decrease in the demand for salami, then salami is
A) a necessity. B) a neutral good. C) a normal good. D) an inferior good.