Macroeconomics is a branch of economics that studies:
a. the different costs associated with production
b. the price and output decisions made by different industries.
c. the overall performance of the economy.
d. the role of a market in determining an efficient outcome.
e. the role of input suppliers in determining the price and quantity of output.
c
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Suppose there are two types of labor, high skilled and low skilled
The demand curve for high skilled labor lies ________ the demand curve for low skilled labor and the supply curve of high skilled labor lies ________ the supply curve of low skilled labor. A) above; above B) above; below C) below; below D) below; above
The watershed approach
a. is a framework used to coordinate the management of each hydrologically defined area b. has been rejected by U.S. policy makers c. has received no financial support from the federal level of government d. does not allow for the use of water quality trading
The Taft-Hartley Act of 1947 outlawed
A) strikes. B) make-work rules and forcing unwilling workers to join a union. C) right-to-work states. D) none of the above.
A demand curve with continuously changing slope over all quantity values will always have a constant price elasticity of demand.
Answer the following statement true (T) or false (F)