During the recovery from the? 2007-2009 recession, the? employment-population ratio did not increase as much as it might have been expected to because
What will be an ideal response?
the recovery was sluggish and employment did not expand as rapidly.
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Suppose Chip's Chips produces bags of potato chips that sell for $3 a bag. What was the total revenue for Chip's Chips?
A. Cannot answer this question without knowing the cost per bag. B. Cannot answer this question without knowing the quantity of bags sold. C. Cannot answer this question without knowing the cost per bag and the quantity of bags sold. D. Cannot answer this question without knowing what market share they hold.
If the market price is $5 and you are currently producing at a level where average total cost is $3 and falling, you should
a. b or c, it doesn't matter b. shut down c. produce only enough to cover variable costs d. produce where MR = MC e. produce until the average total cost and average revenue are equal
The Federal Reserve is a privately operated commercial bank
a. True b. False Indicate whether the statement is true or false
In the AD/AS model, a point where the economy's long-run AS curve, short-run AS curve, and AD curve all intersect at a single point represents a point where:
a. real GDP is equal to its full-employment level. b. all of these choices. c. the conditions of short-run equilibrium are fulfilled. d. the conditions of long-run equilibrium are fulfilled.