The Dow-Jones Industrial Average index is the broadest U.S. stock market index.
Answer the following statement true (T) or false (F)
False
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If the quantity demanded exceeds the quantity supplied, then there is
A) a shortage and the price is below the equilibrium price. B) a shortage and the price is above the equilibrium price. C) a surplus and the price is below the equilibrium price. D) a surplus and the price is above the equilibrium price.
At the end of the production chain that a typical economy moves up along is
a. raw material b. agriculture c. hunting and gathering d. services e. manufacturing
If society leaves some of its resources unemployed, then it will be operating at a point:
a. beneath its production possibilities curve. b. at a corner of its production possibilities curve. c. anywhere along its production possibilities curve. d. outside of its production possibilities curve.
For an upward-sloping labor supply curve, the quantity of labor supplied varies directly, ceteris paribus, with
A. The derived demand for labor. B. Payroll taxes. C. The wage rate. D. The value of leisure time.