Which of the following signals a positive economic statement?
a. value judgment
b. should be
c. opinion
d. ought to be
e. was
E
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A federal budget deficit can simultaneously reduce inflation and unemployment
a. True b. False Indicate whether the statement is true or false
Between recalls on mass-produced commercial dog food and a general understanding of the benefits of a healthier diet for pets, the demand for natural or organic dog food is experiencing a significant increase. Wanda’s treats are more expensive than the “mass-produced” treats found in most grocery and big-box stores but she prides herself on providing high-quality products and believes that her customers are willing to pay the extra money for quality.
How does Wanda’s strategy of being a high-quality provider take advantage of the shifts in consumer demand for healthy dog treats?
Long-run real wages in the United States have:
A. risen because growth in the demand for labor has exceeded growth in the supply of labor. B. risen because the supply of labor has fallen over time. C. fallen because growth in the supply of labor has exceeded growth in the demand for labor. D. fallen because the demand for labor has fallen over time.
Refer to the following graph. The price of capital (r) is $20.
What combination of K and L should the firm choose to produce 14,000 units of output at the lowest cost?
A. 180K, 0L B. 180K, 120L C. 60K, 120L D. 90K, 60L E. none of the above