Moving from the late 1960s to 1970-1973,
a. inflation remained high while the unemployment rate was lower than in the late 1960s.
b. inflation remained high while the unemployment rate was higher than in the late 1960s.
c. inflation remained low while the unemployment rate was lower than in the late 1960s.
d. inflation remained low while the unemployment rate was higher than in the late 1960s.
b
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When there is a recessionary gap, capital and labor resources are:
A. decreasing in number. B. not being fully utilized. C. producing beyond their capacity. D. misallocated.
To minimize distortion and errors, it is best to ensure the shortest path between the source of the information and its user
Indicate whether the statement is true or false
Evaluate the following statement in the context of business-stealing and product-variety externalities: "We have too many student apartments in this town already. Statistics show that vacancy rates average 15 percent during any given semester."
Refer to Scenario 9.8 below to answer the question(s) that follow. SCENARIO 9.8: Investors put up $1,040,000 to construct a building and purchase all equipment for a new gourmet cupcake bakery. The investors expect to earn a minimum return of 10 per cent on their investment. The bakery is open 52 weeks per year and sells 900 cupcakes per week. The fixed costs are spread over the 52 weeks (i.e. prorated weekly). Included in the fixed costs is the 10% return to the investors and $2,000 in other fixed costs. Variable costs include $2,000 in weekly wages, and $600 per week in materials, electricity, etc. The bakery charges $8 on average per cupcake.Refer to Scenario 9.8. Economic profit per week is
A. -$400. B. $0. C. $600. D. $900.