A fall in the price of the final product produced by a firm will cause
A) a decline in the price of an input used to produce the good.
B) a movement down the demand curve for an input used to produce the final product.
C) a reduction in demand for an input used to produce the final product.
D) a reduction in the supply of an input used to produce the final product.
C
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Suppose the working-age population is 500 million, the labor force is 200 million, and the unemployment rate is 15 percent. The number of unemployed people is
A) 30 million. B) 75 million. C) 45 million. D) 105 million. E) 15 million.
The long run in macroeconomic analysis is a period
A. in which wages and some other prices are sticky. B. in which the capital stock is held constant. C. in which full wage and price flexibility and market adjustment have been achieved. D. greater than 12 months.