Consider a two-goods (capital and consumption) production possibilities curve for the year 2004 . Which of the following pairs are assumed fixed in this scenario?
a. unemployment and capital goods production in the year 2004
b. number of resources and consumption goods production in the year 2004
c. composition of the economy's output and number of resources in the year 2004
d. capital and consumption goods production in the year 2004
e. technology and number of resources in the year 2004
E
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The Southern economy ________________ from the damages of the Civil War.
A. quickly recovered B. experienced no lingering effects C. suffered decades of economic transition
Investment is the expenditure done by
A) savers. B) firms. C) the rest of the world. D) governments. E) Both answers A and B are correct.
Students who leave school in the spring and look for work are one source of ________
A) structural unemployment B) cyclical unemployment C) frictional unemployment D) business-cycle fluctuations
Which of the following would be primarily determined in factor markets? a. The number of computers produced
b. The wage rates for high school teachers. c. The price of automobiles. d. Sales tax revenues.