Prices that adjust nearly on a daily basis are
A) heavy prices. B) sticky prices. C) auction prices. D) custom prices.
C
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The price of gasoline rises by 33 percent to $3.50 a gallon and stays at that price for the next two years. The quantity of gasoline demanded two years from now will be
A) the same as one month after the price hike. B) greater than one month after the price hike. C) less than one month after the price hike. D) the same as it would be if the price hike had never occurred.
In the above figure, if the price is P1 and the firm produced Q3, the firm's economic profit is ________ than if it produced Q1 and ________ than if it produced Q2
A) less; less B) less; more C) more; less D) more; more
A trade deficit experienced by a country during a year generally signals the poor health of the economy
a. True b. False Indicate whether the statement is true or false
The labour force participation rate is
A) the percentage of the working-age population who are employed. B) the percentage of the labour force who are employed. C) the percentage of the labour force who are unemployed or employed. D) the percentage of the working-age population who are unemployed or employed. E) none of the above.