Other things being equal, the quantity of money that people want to hold can be expected to
decrease as the interest rate increases
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In the case of pure monopoly:
a. one firm is the sole producer of a good or service which has no close substitutes b. the firm's profit is maximized at the price and output combination where marginal cost equals marginal revenue c. the demand curve is always elastic d. a and b only e. a, b, and c
The circular flow model is an abstract representation of the interaction between households and firms through the institutions of
a. government and financing outlets b. church and state c. property and law d. resource and product markets e. trade and conflict
Increased productivity of workers in manufacturing has
A. increased employment in manufacturing. B. increased employment in agriculture. C. decreased employment in agriculture. D. decreased employment in services. E. increased employment in services.
If the total population is 175 million, the labor force is 100 million, and 89 million workers are employed, then the unemployment rate is 11 percent.
Answer the following statement true (T) or false (F)