If the unemployment rate for the United States economy rises from 7 to 11 percent during a year, we can conclude that:
a. Actual GDP is less than potential GDP
b. The natural rate of unemployment for the United States economy has risen
c. The economy is experiencing only frictional unemployment
d. Actual GDP exceeds potential GDP
a. Actual GDP is less than potential GDP
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Suppose the equilibrium price of cotton is $100 per ton. A price support set at ________ than $100 per ton ________
A) less; increases producer surplus B) less; increases consumer surplus C) more; increases consumer surplus D) more; decreases marginal cost E) more; creates a surplus that the government must buy
What is depreciation?
What will be an ideal response?
If services are purchased from others that were once performed internally, then a firm has
A) downsized. B) outsourced. C) reduced the economies of scope. D) experienced diseconomies of scale.
Which of the following occupations is projected to be the fastest growing in the U.S. in terms of percentage increases?
A. Medical assistants. B. Biomedical engineers. C. Personal care aides. D. Software engineers.