When there is an upward rise in the volume of economic activity, the economy is said to be in a recession
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose the observed annual quantity of steel exchanged in the European market is 30 million metric tons, and the observed market price is 90 euros per ton. If the linear demand function for steel takes the form Q = a - 0.9P, what is an appropriate value for the intercept coefficient a?
a = -111 a = 51 a = -51 a = 111
If an owner of a copy center is interested in knowing which of her employees can make the most copies in one hour, she wants to understand _____.
(A) Which employee has the absolute advantage in making copies. (B) The opportunity cost of employees making copies . (C) Which employee has the comparative advantage in making copies. (D) The resource distribution of her copy center.