Refer to the scenario above. Which of the following will you choose in order to maximize return?
A) Plan 1
B) Plan 2
C) Plan 3
D) Plan 4
A
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If the U.S. Surgeon General announces that increased wheat consumption could cause heightened anxiety levels among children and adults, what happens to the equilibrium price and quantity of shredded wheat?
A) The equilibrium price rises and the equilibrium quantity increases. B) The equilibrium price falls and the equilibrium quantity decreases. C) The equilibrium price rises and the equilibrium quantity decreases. D) The equilibrium price falls and the equilibrium quantity increases.
Economists define full employment as the level of employment that results when
a. the economy is in an economic boom. b. the rate of unemployment is zero. c. the rate of unemployment has fallen to its historical low of approximately two percent. d. the rate of unemployment is normal, considering both frictional and structural factors.