Refer to the information provided in Table 22.1 below to answer the question(s) that follow. Table 22.1
Refer to Table 22.1. The labor force equals
A. 14,000 people.
B. 17,000 people.
C. 18,000 people.
D. 21,000 people.
Answer: B
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The kinked demand curve model best reflects
A) mutual interdependence among sellers. B) a game theory approach to price-output decisions. C) price rigidities in oligopolistic markets. D) All of the above
Which of the following conditions is true for a nation operating at a point lying inside its production possibilities curve?
a. The nation is experiencing a technological breakthrough in one of its key industries. b. The nation is clearly utilizing its resources efficiently. c. The nation is producing the maximum output that can be produced with a limited quantity of resources. d. The nation is not utilizing its resources efficiently. e. The nation is producing the maximum output that can be produced with its unlimited quantity of resources.
When income levels in the home nation increase, what is the effect on the home TB?
a. It decreases because of expenditure switching. b. It decreases because of an increase in imports. c. It increases because of an increase in exports. d. It increases because of expenditure switching.
Government spending is funded by a system of
A. taxation and borrowing. B. checks and balances. C. policies and laws. D. states and cities.