Liability rules are laws that require party A to compensate party B for damages imposed.
Answer the following statement true (T) or false (F)
True
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The unemployment rate measures the percentage of discouraged workers in the labor force
a. True b. False Indicate whether the statement is true or false
Which of the following topics is related to microeconomics?
A. Explanations of why recessions occur. B. Determining how much output a firm should produce. C. The rate of unemployment. D. The rate of economic growth.
Exhibit 6-7 Marginal utility for sandwiches and sodas Quantity Sandwiches Sodas 1 10 5 2 8 4 3 6 3 4 3 1 5 ?1 0 Refer to Exhibit 6-7. Diminishing marginal utility for sandwiches sets in after the ____ sandwich.
A. first B. second C. third D. fourth
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary