A failure in coordination between workers and employers is most likely to cause an expansionary gap
a. True
b. False
Indicate whether the statement is true or false
False
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In perfect competition, ________
A) there are restrictions on entry into the market B) firms in the market have advantages over firms that plan to enter the market C) only firms know their competitors' prices D) there are many firms that sell identical products
An "increase in the quantity supplied" suggests a
A. leftward shift of the supply curve. B. rightward shift of the supply curve. C. movement down and to the left along the supply curve. D. movement up and to the right along the supply curve.
Suppose that the table shown shows the demand and supply schedules for pork bellies. Based on the table, the equilibrium price of pork bellies is:Price($/lb.)Quantity demanded (lbs.)Quantity Supplied (lbs.)$0.1030,0005,000$0.2025,00010,000$0.5020,00020,000$0.7515,00030,000$0.955,00040,000
A. $0.75/lb. B. $0.25/lb. C. $0.50/lb. D. $0.10/lb.
The "shoe-leather" cost of a fully anticipated inflation is
A) the inconvenience of holding less cash. B) the higher prices of imported raw materials due to currency depreciation. C) the extra time spent on shopping in order to beat price increases. D) the effort of changing posted prices on price tags and producing new price lists and catalogs.