The United States has a closed economy
Indicate whether the statement is true or false
FALSE
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During the short-run period of the production process, a firm will be:
a. unable to vary any of its factors of production. b. able to vary some of its factors of production. c. able to vary all of its factors of production. d. able to vary the size of its plant.
When quantity supplied is greater than quantity demanded
A. there is excess demand that is not being satisfied. B. price will rise until it gets back to equilibrium. C. price will fall until it gets back to equilibrium. D. the market is in equilibrium.
If the price level is falling, all of the following are true except
A. Businesses are reluctant to borrow money. B. Purchasing power increases. C. Lenders are better off. D. Borrowers are not affected.
If the population is 267 million, the labor force is 136 million, and the number measured as unemployed is 6.8 million, what is the rate of unemployment?
What will be an ideal response?