Market
What will be an ideal response?
A group of buyers and sellers of a particular good or service.
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Total utility increases if one more unit of a product is purchased and marginal utility is positive
a. True b. False Indicate whether the statement is true or false
________ purchasing power parity states that a bundle of tradable products will have the same cost in different countries if the cost is stated in the same currency.
A. Full B. Relative C. Absolute D. Partial
Supply is unit elastic when the
A) supply curve is upward sloping. B) price elasticity of supply is positive. C) percentage change in the quantity supplied equals the percentage change in price. D) supply curve is horizontal. E) supply curve is vertical.
By offering less generous unemployment insurance programs, the United States can expect
A) citizens to pay more in taxes than citizens pay in Europe. B) longer periods of unemployment for their workers. C) workers to be slow in gaining new skills in response to fluctuations in the labor market. D) shorter periods of unemployment for their workers.