Economic regulation aims to control the price, output, the entry of new firms, and the quality of service in industries in which monopoly appears inevitable or even desirable
a. True
b. False
A
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Underemployment occurs when workers
a. are not employed. b. are working at jobs that do not require their full skill or productivity. c. work part-time although they want to work full-time. d. are working at jobs that do not require their full skill or productivity AND work part-time although they want to work full-time.
Both demand and supply curves usually have positive slopes.
Answer the following statement true (T) or false (F)
The American Recovery and Reinvestment Act, a $787 billion package of tax benefits and spending programs aimed at reducing aggregate demand in the U.S economy
Indicate whether the statement is true or false
The law of diminishing marginal productivity states that as more units of a variable input are added, holding other inputs constant (ceteris paribus), the additional output obtained from each new unit of the variable input eventually falls.
Answer the following statement true (T) or false (F)