A document that authorizes another person to vote on behalf of a shareholder in a corporation
What will be an ideal response?
Proxy
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When a nation exports a good, its consumer surplus ________, and its producer surplus ________
A) increases; increases B) decreases; decreases C) increases; decreases D) decreases; increases E) does not change; increases
Suppose Okun's law holds and a one percentage point increase in the unemployment rate reduces real output by 2% of full-employment output
The expectations-augmented Phillips curve is given by ? = ?e - 2.5 (u - 0.04). Suppose ? = 0.08 and ?e = 0.03. (a) What is the natural rate of unemployment? (b) What is the actual rate of unemployment? (c) How much is actual GDP compared with full-employment GDP?
The reduction in average cost resulting from an increase in the volume of a good or services produced is called:
A) information cost B) transaction cost C) diminishing returns D) economies of scale
As the wage rate increases, the substitution effect causes workers to supply more time to market work and the income effect causes them to supply less time to market work
a. True b. False