The invisible hand of the marketplace acts to allocate resources efficiently, but it does not necessarily ensure that resources are allocated fairly
a. True
b. False
Indicate whether the statement is true or false
True
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Between September 2013 and September 2014 the number of discouraged workers decreased from 852,000 to 698,000. Assuming the change resulted from discouraged workers starting to make specific efforts to find a job again, this change creates
A) an increase to the U-3 unemployment rate. B) a decrease to the U-3 unemployment rate. C) no change to the U-3 unemployment rate. D) a decrease in the labor force participation rate.
If you spend more of your income on consumption goods, which of the following will occur?
A) Economic growth will be stimulated. B) For every dollar you spend on consumption, real GDP will fall by a dollar. C) Investments in education will rise. D) The production of investment goods will fall.
A bowed Production Possibilities Curve (PPC) indicates
A. only 1 good is always being produced. B. changing technology. C. that the trade-off between the 2 goods is not constant. D. inefficient production.
Which of the following helped to maintain a healthy farm sector prior to 1920?
A. Recurrent wars. B. More advanced technology. C. Food for peace programs. D. A decreasing population.