Governments do all of the following except:
A. demand goods and services from businesses in the goods market.
B. demand labor services from households in the factor market.
C. supply labor services to businesses in the factor market.
D. oversee the interaction of households and businesses in the goods and factor markets.
Answer: C
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Because of the system defined by the U.S. Constitution, people and media often call the national government in Washington D.C. ______________
Fill in the blank(s) with the appropriate word(s).
Refer to Figure 12-6. If Jason maximizes his profit he will produce the output rate indicated by point ________ and his average profit will equal ________
A) a; $3 B) b; $3 minus ATC at point b C) d; $3 minus ATC at point d D) e; $3 minus ATC at point e
Discuss the relationship between world trade and world Gross Domestic Product (GDP) since the early 1950s
What will be an ideal response?
Structural unemployment occurs when: a. automation reduces the need for welders in Detroit
b. frictional unemployment exceeds 5 percent of the labor force. c. steelworkers are laid off due to a downturn in the economy. d. a person leaves a job to seek a better position and has not yet found the job he or she wants.