Refer to the diagram. Equilibrium output is:
A. j.
B. h.
C. g.
D. f.
C. g.
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The shampoo industry is constantly coming out with new products. The reason is that when a firm introduces a new shampoo into the market, the demand for the shampoo becomes ________ temporarily and economic profit ________
A) more elastic; decreases B) less elastic; increases C) more elastic; increases D) less elastic; decreases E) unit elastic; increases
If a bank receives a $20 million discount loan from the Federal Reserve, then the bank's reserves will
A) increase by more than $20 million. B) increase by $20 million. C) not change. D) increase by less than $20 million.
Countries that have policies that encourage unemployment should be expected to have more unemployed workers
a. True b. False Indicate whether the statement is true or false
Fred and Barney fill egg cartons with eggs. Fred just started the job and can fill only 20 cartons an hour. Barney has significant on-the-job experience and can fill 40 cartons an hour. Both Fred and Barney work 40 hours a week. Fred's average weekly productivity is ________ cartons; Barney's average weekly productivity is ________ cartons; and as a team their average weekly productivity is ________ cartons.
A. 20; 40; 60 B. 800; 1,600; 1,200 C. 20; 40; 30 D. 800; 2,000; 1,600