Unemployment is not distributed evenly across the U.S. population.
Select whether the statement is true or false.
A. True
B. False
A. True
This statement is true. Unemployment is not distributed evenly across the U.S. population.
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Using a credit card can best be likened to
A) taking out a loan. B) a barter exchange. C) using currency only as a means of payment. D) using any other form of money as a means of payment.
Buying at a low price in one market and reselling at a higher price in another market will
A) not generate any profit because of transactions costs. B) not generate any profit because of transportation costs. C) eventually eliminate all of the price differences. D) eventually eliminate most, but not necessarily all, of the price differences.
If wages and prices adjust slowly, we would expect expansionary monetary policy to be
A) more likely to result in a vertical short-run Phillips curve. B) less likely to reduce the natural unemployment rate. C) more likely to reduce inflation. D) more likely to affect the unemployment rate.
In the text, when the Nick Rudd Ice Company starts as a monopoly and then finally faces competition from a new entering ice company, its
a. price falls, its economic profit falls, but its output increases b. price falls, its economic profit falls, and its ATC falls c. price falls, its economic profit falls, and it faces a more elastic demand curve d. price increases, its economic profit falls, and it faces a less elastic demand curve e. ATC falls, its economic profit falls, and it faces a less elastic demand curve