Which of the following will improve your bargaining position when contracting with a supplier
a. You are better able to accommodate other suppliers' brands
b. You must only buy the raw material from your preferred supplier to ensure quality
c. Two of your suppliers merge
d. Your final product that includes this component becomes more profitable
a
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Do policy makers know the level of unemployment that is associated with "full employment"?
a. Yes, economists have the precise level of unemployment that is full employment. b. Yes, although there is a small range of uncertainty in this measure. c. No, economists have no idea what this level of unemployment is. d. No, this number is not known with complete accuracy.
Which of the following sets of terms describes the problem of scarcity in economics?
A) goods, land, and needs B) labor, needs, and opportunity costs C) choices, opportunity costs, and trade-offs D) production, consumption, and wants