If, at the current price, there is a shortage of a good, then
a. sellers are producing more than buyers wish to buy.
b. the market must be in equilibrium
c. the price is below the equilibrium price.
d. quantity demanded equals quantity supplied.
c
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Refer to Table 10-2. Using the table above, what is the approximate average annual growth rate from 2013 to 2016?
A) -1% B) 1% C) 2% D) 4%
The MRP curve for labor generally expresses
A. a particular firm's demand for labor. B. the entire industry's demand for labor. C. the entire economy's demand for labor. D. None of the choices are correct.
In order to minimize the NET costs associated with crime,
A. no crime should be eliminated. B. steps must be taken to eliminate all crime. C. crime should be reduced to the level at which the marginal cost from crime equals the marginal cost of crime prevention. D. crime should be reduced to the level at which the total benefit from crime equals the total cost of crime prevention.
The recession of 2007-2009 happened in part because, after the housing bubble burst in 2006, disruptions in the financial market made it difficult:
A. for businesses and consumers to borrow money. B. to fight inflation. C. to shift the PAE line downward. D. for government to finance deficit spending.