Unemployment in the United States varies considerably over time
a. True
b. False
Indicate whether the statement is true or false
True
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A change in the price of one good, such as staples, may affect the quantity demanded of another good, such as rubber bands.
Answer the following statement true (T) or false (F)
If the money wage rate rises relative to the price level, firms ________ the quantity of labor they demand and workers ________ the quantity of labor they supply
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Suppose the price of beans rises from $1.00 a pound to $2.00 a pound, quantity demanded falls from 10 units to 6 units, the coefficient of elasticity of demand for beans using the arc elasticity approach is
A) -1.33. B) -0.75. C) -0.4. D) -0.25.
A society allocates its scarce resources to various uses. These scarce resources include
a. land. b. people. c. machines. d. All of the above are correct.