A recession occurs when real GDP decreases for at least 6 months
Indicate whether the statement is true or false
TRUE
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Refer to the table above. What is the market supply of labor per week when the wage rate is $50?
A) 12 hours B) 30 hours C) 50 hours D) 71 hours
Becky decides to spend $50 per month on DVD rentals and movie tickets. Her marginal utility schedules from these two goods are shown in the table above. The price of a DVD rental is $2.50, and the price of a movie ticket is $5
Suppose Becky rents 8 DVDs and buys 6 movie tickets per month. She A) cannot increase her total utility because she already gets the maximum possible utility from DVD rentals and movies within her budget. B) can increase her total utility if she rents more DVDs and buys more movie tickets. C) can increase her total utility if she rents more DVDs and buys fewer movie tickets. D) can increase her total utility if she rents fewer DVDs and buys more movie tickets.
The account that shows international transactions involving currently produced goods and services is called the
A) trade balance. B) current account. C) balance of payments. D) capital account.
Scarcity is a result of an unfair distribution of income
a. True b. False Indicate whether the statement is true or false