If the United States' unemployment rate is 25 percent and the capacity utilization rate is 50 percent, the economy would be in the midst of a _____________.
Fill in the blank(s) with the appropriate word(s).
depression
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Most grievances that do not involve a contractual matter can be resolved by ______.
a. the chief of police b. the city attorney c. the police captain d. the first line supervisor
An HVAC company is selling heating and cooling equipment. It has separate sales and marketing units. The marketing unit would want to
a. Price aggressively to ensure sales are made b. Price less aggressively to ensure that profitable sales are made c. Price at cost to maximize sales d. None of the above
Which of the following factors has the most quantitative importance on the oversimplified multiplier formula?
A. It ignores variable imports. B. It ignores price-level changes. C. It ignores income taxes. D. All of these equally affect the oversimplified multiplier formula.
The Slutsky equation shows that, holding the total effect constant, the income effect will be larger for goods that
A) have a smaller substitution effect. B) make up a larger percentage of a household's budget. C) have perfectly inelastic demand curves. D) All of the above.