An increase in the unemployment rate from 15 percent to 20 percent might be illustrated as:
a. a movement up and to the left from one point along the production possibilities curve to another.
b. a movement from a point on the production possibilities curve to an interior point
c. a movement from an interior point to a point on the production possibilities curve.
d. a movement from a point inside the production possibilities curve to one closer to the origin.
d
Economics
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In a perfectly competitive market, there are
A) many buyers and many sellers. B) many buyers, but there might be only one or two sellers. C) many sellers, but there might be only one or two buyers. D) one firm that sets the price for the others to follow.
Economics
According to some economists, firms in some industries gain a performance advantage by: a. dumping
b. charging a zero price for products. c. clustering. d. reducing R&D spending. e. increasing labor wage.
Economics