Combined, local, state, and federal governments in the United States directly employ about ________ percent of all workers.
A. 2
B. 6
C. 14
D. 27
Answer: C
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During an economic boom, output exceeds potential output
Indicate whether the statement is true or false
What does it mean for a firm to be suffering an economic loss? Does this imply that the firm is earning negative profit in the accounting sense? Explain
What will be an ideal response?
If a good is produced by firms that incur all private and external costs, the price consumers pay
A) will be efficient since it includes all social costs. B) will be too low. C) will be too high because the consumers end up paying all of the costs instead of the firm. D) will be the correct price, but inefficient.
In what way is monopolistic competition more like competition, and in what way is it more like monopoly?
What will be an ideal response?