Which statement is true?
A. it is easier to attain full employment than full production.
B. employment discrimination no longer exists in the U.S. labor market.
C. The United States is usually operating on the production possibilities frontier.
D. None of these statements are true.
A. it is easier to attain full employment than full production.
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If the income elasticity of food is 0.72, then food is
A) a necessity and a normal good. B) a normal good. C) a necessity. D) an inferior good.
The interest rate that the Fed pays on reserves acts as a ceiling on the federal funds rate
Indicate whether the statement is true or false
Prices are likely to be least flexible:
A. in oligopoly. B. in monopolistic competition. C. where product demand is inelastic. D. in pure competition.
In the short run, monopolistically competitive firms find their profit-maximizing quantity by setting price equal to marginal cost.
Answer the following statement true (T) or false (F)