The labor force includes people who
i. are less than 16 years of age.
ii. are in institutions.
iii. are actively seeking a job but do not have a job.
A) i, ii, and iii B) i only C) iii only D) i and ii E) i and iii
C
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Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the short run would be:
A. P1 and Y2. B. P2 and Y3. C. P3 and Y1. D. P2 and Y2.
In a monopolistically competitive market, a firm should advertise to the point at which
A. it is selling the most units it can possibly sell. B. the additional revenue generated by one more dollar of advertising just equals the extra dollar cost of advertising. C. it can raise price to the highest level possible. D. the extra revenue from an additional dollar spent on advertising just equals the marginal cost of producing one more unit of the good.