In the 20th century, tertiary employment accounted for roughly
(a) fifty percent of the total job increases.
(b) ninety percent of the total job increases.
(c) thirty percent of the total job increases.
(d) seventy percent of the total job increases.
(a)
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In the model of the money supply process for M2, the relationship between checkable deposits and the M2 money supply is represented by
A) D = × M2. B) D = (1 + c + t + mm) × M2. C) M2 = × D. D) M2 = .
If a firm is a profit maximizer and faces positive marginal costs,
A) there is a natural limit to the size of the firm, where MR = 0. B) there is no natural limit to the size of the firm; it can be as large as it wants to be. C) there is a natural limit to the size of the firm, where MR > 0. D) there is no natural limit to the size of the firm, hence the need for government regulation.
The Slutsky equation shows that, holding the total effect constant, the income effect will be larger for goods that
A) have a smaller substitution effect. B) make up a larger percentage of a household's budget. C) have perfectly inelastic demand curves. D) All of the above.
The second step of the four step process is to
a. identify the new equilibrium and then compare the original equilibrium price and quantity to the new equilibrium price and quantity. b. decide whether the economic change being analyzed affects demand or supply. c. draw a demand and supply model before the economic change took place. d. decide whether the effect on demand or supply causes the curve to shift to the right or to the left, and sketch the new demand or supply curve on the diagram.