Refer to Figure 10-6. A change in the price of candy only is shown in
A) Panel A. B) Panel B.
C) Panel C. D) none of the above panels.
C
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Based on the above figure of the costs at Barney's Bagel Bakery, at which of the following levels of output does the marginal product of labor equal the average product of labor?
A) at 500 bagels B) at 2000 bagels C) at 3000 bagels D) None of the above because the marginal and average products of labor can never be equal.
Which type of unemployment is likely to increase the most during an economy's recession?
a. Frictional unemployment b. Seasonal unemployment c. Structural unemployment d. Cyclical unemployment e. Underemployment
John Maynard Keynes thought that when interest rates fell to very low levels, people would
A. keep their money in the bank. B. lend out their money. C. buy bonds. D. hold their money.
Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher