The Bureau of Labor Statistics releases its employment report
a. on the first Friday of every month.
b. on the first Friday of every quarter.
c. once every four months.
d. on the first Friday every two months.
e. once every six months.
A
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Suppose there are only 2 nations, Atlantis and Pacifica, and only two goods, surfboards and kayaks. If Atlantis produces only surfboards, it can make 50 per day. If Atlantis produces only kayaks, it can make 75 per day
If Pacifica produces only surfboards, it can make 75 per day. If Pacifica produces only kayaks, it can make 75 per day. After trade begins, ________ will specialize in the production of surfboards and ________ will specialize in the production of kayaks. A) Atlantis; Pacifica B) Pacifica; Atlantis C) Atlantis; Atlantis D) Pacifica; Pacifica
In a perfectly competitive industry, the demand for a single firm's product is
A) perfectly inelastic. B) perfectly elastic. C) as elastic as the market demand. D) inelastic, but not perfectly inelastic.