At full employment there still exists some unemployment because
A) some portion of our population will always be too lazy to work.
B) there are always people too old or young to be in the labor force.
C) the U.S. economy is constantly creating and destroying jobs.
D) it is unnatural to have all people work 40 hours per week.
E) real GDP can never exceed potential GDP.
C
Economics
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Which of the following is true if a firm shuts down? i. The price is less than minimum average variable cost. ii. The firm is able to avoid an economic loss. iii. The firm incurs a loss equal to its total variable cost
A) i only B) i and ii C) i and iii D) iii only E) ii only
Economics
What led to the over-extension of credit by some private banks and central banks in the euro zone prior to the 2009 euro crisis?
What will be an ideal response?
Economics