Figure 9-2
The economy depicted in is
a.
operating at less than full employment.
b.
operating at more than full employment.
c.
in short-run equilibrium but not long-run equilibrium.
d.
in long-run equilibrium.
d
You might also like to view...
When Jimmy is shopping for fire insurance for his condo, he finds that the insurance companies all require smoke detectors be installed before they will issue a policy. This is a way for the insurance companies to help reduce the problem of ________
Fill in the blank(s) with correct word
It was more than a century ago that an engineer named Frederick Taylor walked into factories and starting timing workers with a stop watch. He dissected their movements, and organized them more efficiently
He turned factory production into a science. Suppose work was completed in the factory based on what the floor manager decided and workers were paid a base daily wage plus a bonus when they produced more than expected. How does this firm organize production? A) through the command system B) through the incentive system C) through the market system D) through a mixed command and incentive system
A nation's standard of living is determined by
a. the percentage of its GDP that is accounted for by government purchases. b. the quantity of natural resources with which it is endowed. c. the productivity of its workers. d. factors and events that are beyond the nation's control.
A dependent variable is also known as a(n) _____.
A. explanatory variable B. control variable C. predictor variable D. response variable