Unemployment caused by changes in technology is called ________ unemployment
A) structural
B) frictional
C) techno
D) cyclical
A
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The total revenue test says that if a price decrease leads to
A) an increase in total revenue, demand is income elastic. B) a decrease in total revenue, demand is income inelastic. C) a decrease in total revenue, demand is price inelastic. D) a decrease in total revenue, supply is price inelastic. E) a decrease in total revenue, supply is price elastic.
The method of allocation that most stores use during Thanksgiving sales is:
a. a combination of market price and lottery b. first-come, first-served c. a combination of contest and command d. a combination of market price and first-come, first-served
It is sometime useful to view each step in the supply chain as a(n)
A) single market. B) integrated process. C) horizontal process. D) vertical process.
An increase in demand accompanied by a simultaneous decrease in supply will have what effect on equilibrium?
a. Price will either rise or fall; quantity will fall. b. Price will rise; quantity will fall. c. Price will rise; quantity will either rise or fall. d. Price will either rise or fall; quantity will rise. e. Price will fall; quantity will either rise or fall.