According to Okun's law, if output increased by 15 percent, unemployment should decrease by 3 percent.
Answer the following statement true (T) or false (F)
False
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When competing firms set prices with attention to the prices set by their competitors, the demand curve faced by each firm
A) becomes indeterminate. B) becomes less elastic. C) becomes more elastic. D) shifts toward the northeast. E) shifts toward the southwest.
The international trade agreement that was executed in the 1940s was
a. the NAFTA b. the U.S.–Mexico Border 2012 Agreement c. the London Convention d. the 1996 Protocol e. the GATT
It is possible for a merger to result in lower prices for consumers.
Answer the following statement true (T) or false (F)
Countries with high rates of economic growth tend to have
A) a lower life expectancy at birth. B) low rates of technological advancement. C) a declining incidence of business cycle fluctuations. D) a labor force that is more productive.