The value of labor is in skill, effort and knowledge
Indicate whether the statement is true or false
True
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Under the liquidity premium theory, a flat yield curve indicates that investors expect future short-term rates to
A) fall. B) rise. C) remain constant. D) either fall or remain constant.
Which of the following is an economic cost of unemployment?
a. The extra leisure time available b. The increase in short-run output that results in higher unemployment c. The psychological cost of not having a job d. The cost of having to count the unemployed e. The opportunity cost of lost output
Market power allows firms to raise prices significantly above the competitive level
a. True b. False Indicate whether the statement is true or false
When economists say goods are scarce, they mean:
A. consumers are too poor to afford the goods and services available. B. consumers are unwilling to buy goods unless they have very low prices. C. goods are generally freely available from nature in most countries. D. the desire for goods and services exceeds our ability to produce them with the limited resources available.