Consider an economy that is in short-run equilibrium with unemployment below the natural rate. According to the passive approach, low unemployment will eventually cause wages to fall, lowering the firms' cost of doing business
Indicate whether the statement is true or false
false
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According to your text, with the exception of South Africa, the record of economic growth in sub-Saharan Africa
A) is tragic. B) mirrors that of most of the Latin American countries. C) is about the same as South Korea. D) is respectable, but not fantastic.
In the long run, price elasticities of demand are usually __________
a. less than they are in the short run because people can adjust b. the same as they are in the short run because tastes don't change c. greater than they are in the short run because prices rise over time d. less than they are in the short run because real prices fall over time e. greater than they are in the short run because consumers have time to adjust
China has a larger population than India and is expected to be the most populous nation in the world throughout the twenty-first century
Indicate whether the statement is true or false
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A. B. A to C. C. C to D. D. B to D.