A firm's goal is to maximize normal profit
Indicate whether the statement is true or false
FALSE
Economics
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Pat gives up a $40,000 per year job to stay at home and take care of the house. By so doing, Pat saves $15,000 in child care and house cleaning services which he now performs himself. The direct effect on GDP from Pat's decision is a decrease of
A) $25,000. B) $15,000. C) $30,000. D) $40,000. E) $55,000.
Economics
Structural unemployment is:
A. the result of the ordinary difficulty of matching employee to employer. B. persistent, long-term unemployment. C. short-term unemployment. D. correlated with the ups and downs of the business cycle.
Economics