Which of the following statements about full employment is correct? I. Full employment means that the unemployment rate is less than 1/2 of 1 percent. II. Full employment means that the transaction costs associated with getting a job are zero
A) I only
B) II only
C) Both I and II
D) Neither I nor II
D
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The (false) idea that an industry should be protected because of learning-by-doing until it is large enough to compete successfully in world markets is the ________ argument for protection
A) cheap foreign labor B) infant industry C) dumping D) comparative advantage
If more foreign tourists visited the United States, this would
A. lower our merchandise trade imbalance. B. lower our overall trade imbalance. C. raise our merchandise trade imbalance. D. raise our overall trade imbalance.
How does consumer choice differ from consumer sovereignty in a market system?
Please provide the best answer for the statement.
“Households are the principal source of savings. But businesses are the main economic investors.” Briefly explain
What will be an ideal response?