In general, the relationship between output and unemployment
A. has been quite stable over the long run.
B. is a simple one, as represented by Okun's Law.
C. depends on the state of the economy at the time of the output change.
D. has been completely unpredictable over time.
Answer: C
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Judy has just looked through her favorite catalog that came in the mail and has placed an order. The catalog is an example of
A) mass marketing. B) direct marketing. C) indirect marketing. D) interactive marketing.
At prices above a consumer’s reservation price:
A. the opportunity cost is less than the benefit from having the good. B. the opportunity cost is greater than the benefit from having the good. C. the buyer will purchase the good. D. the willingness to pay is greater than the price.
In the production function Real GDP = T (L, K), the T represents the _____________ coefficient, the L represents ________________ and the K represents _______________
A) tax; labor; capital B) technology; labor; capital C) technology; labor; knowledge D) technology; livestock; knowledge
To calculate the slope of a line, find the vertical distance between two points and divide it by the horizontal distance between the same two points.
Answer the following statement true (T) or false (F)