What would best explain why the equilibrium price of pink salmon decreased and the equilibrium quantity increased?
A. The increase in demand was greater than the decrease in supply
B. The decrease in demand was greater than the decrease in supply
C. The increase in supply was greater than the decrease in demand
D. The decrease in supply was greater than the increase in demand
C. The increase in supply was greater than the decrease in demand
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The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.
Starting from a pure exchange equilibrium, an increase in the demand for a commodity will result in:
a. a fall in the market price. b. a rise in the market price. c. a rise in the equilibrium output. d. a fall in the equilibrium output.
For a given technology, a higher capital stock will decrease labor productivity
a. True b. False Indicate whether the statement is true or false
The labor force includes
A. only those who are employed. B. those who are employed, plus the unemployed. C. the total population, less retirees. D. the total population, less retirees and students. E. the total population, less retirees, students, and government workers.