In a competitive market, every consumer willing to pay the market price can buy a product and every producer willing to sell the product at that price can sell it.
Answer the following statement true (T) or false (F)
True
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An increase in unemployment benefits ________ and an increase in international competition that changes the location of jobs ________
A) increases frictional unemployment; increases structural unemployment B) increases structural unemployment; decreases frictional unemployment C) decreases cyclical unemployment; decreases cyclical unemployment D) decreases cyclical unemployment; increases cyclical unemployment E) decreases structural unemployment; decreases cyclical unemployment
To reduce aggregate demand, the government may reduce _____ or increase _____
Fill in the blank(s) with correct word
(Last Word) All of the following would reduce property crime by increasing its "price," except:
A. imposing greater penalties for those who are caught and convicted. B. using more sophisticated security systems. C. enhancing the legitimate earnings of potential criminals. D. cutting out the middlemen ("fences") by selling stolen goods via Internet auction sites.
A basic understanding of economics is needed to be an informed citizen.
Answer the following statement true (T) or false (F)