A factory in a centrally planned economy produces 1,000 left shoes and no right shoes. No corresponding factory produces only right shoes. This outcome is an example of inefficiency in
a. output selection.
b. production planning.
c. product distribution.
d. market segmentation.
a
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Which of the following statements best describes the neoclassical view about movements in unemployment?
a. The neoclassical view is not especially helpful in explaining why unemployment moves up and down over long time horizons. b. The neoclassical view is especially helpful in explaining why unemployment moves up and down over short time horizons of a few years. c. The neoclassical view is not especially helpful in explaining why unemployment moves up and down over short time horizons of a few years. d. The neoclassical view is especially helpful in explaining why unemployment moves up and down over short and long time horizons.
Scarcity is a temporary state of insufficiency that ends with new innovation
Indicate whether the statement is true or false
Which of the following has resulted from the rise in the participation of women in the labor force?
a. More men lost jobs in the long run b. Youth crime increased significantly c. Households produced less for themselves and demanded more from the market d. More families moved to rural areas
The largest source of federal revenue is the corporate income tax.
Answer the following statement true (T) or false (F)