In the short run, a firm that is incurring losses would always be better off if it keeps producing.
Answer the following statement true (T) or false (F)
False
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Those goods having a calculated income elasticity that is negative are called:
a. producers' goods b. durable goods c. inferior goods d. nondurable goods e. none of the above
If the numbers of people officially employed and officially unemployed each increased by 5%, with no change in the non-institutional civilian population, what would be the effect?
a. an increase in the unemployment rate and no change in the labor force participation rate b. a decrease in the unemployment rate and no an increase in the labor force participation rate. c. no change in the unemployment rate and an increase in the labor force participation rate d. no change in the unemployment rate and a decrease in the labor force participation rate
One answer to the problem of natural monopoly is provision of the good by a government-owned and operated firm. Why is that option not used very often?
Besides the gross domestic product, another measure of how well an economy is doing is
A. government tax rates. B. citations in economic journals. C. popularity polls. D. annual household income.