Refer to the information provided in Figure 2.2 below for the economy of Microland to answer the question(s) that follow.
Figure 2.2Refer to Figure 2.2. Point B represents a situation of
A. full employment but production inefficiency.
B. less than full employment and production inefficiency.
C. both full resource employment and production efficiency.
D. less than full employment but production efficiency.
Answer: C
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According to the Application, what percentage of the world's population currently lives in urban squatter settlements and therefore has very little housing security?
A) 1% B) 10% C) 30% D) 50%
Tommy graduates from college and starts to look for a job. Tommy is
A) cyclically unemployed. B) frictionally unemployed. C) structurally unemployed. D) employed because he is looking for work. E) unnecessarily unemployed.
When setting prices, the monopolist may choose to charge alternative customers different prices based on: a. geographical location. b. age
c. income. d. all of the above
GDP is based on the market value of goods and services produced in an economy and not on the value of only final goods and services
a. True b. False Indicate whether the statement is true or false