Which of the following would be used in a representative household analysis?
a. the incomes of a randomly selected group of households
b. the income of a case-study household
c. the average of all households’ disposable incomes
d. the average of all investment earnings
c. the average of all households’ disposable incomes
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During periods of poor economic performance, real GDP
A) declines and unemployment declines. B) is unchanged but unemployment rises sharply. C) declines and unemployment rises. D) declines but unemployment typically does not change.
Refer to the scenario above. If the economy is currently on F2 and produces Y3 level of output, a leftward shift of the labor demand curve with no change in productivity will cause output to ________
A) increase from Y3 to Y4 B) decline from Y3 to Y1 C) decline from Y3 to Y2 D) increase from Y3 to Y5
Based on the figure above, curve A is the firm's
A) marginal cost curve. B) total cost curve. C) average total cost curve. D) total variable cost curve. E) total fixed cost curve.
Critically evaluate the following statement: "If no other assistance is available, tied aid should be accepted anyway, on the grounds that developing countries should accept any help they can get."
What will be an ideal response?