According to the classical model
A) long-term unemployment is unavoidable.
B) unemployment is a temporary phenomenon.
C) unemployment only exists during periods of war.
D) the natural rate of unemployment is zero.
B
Economics
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The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 4, then the firm
A) is earning positive profits. B) should produce 35 units. C) should shut down. D) None of above.
Economics
According to Say's law,
A) the demand curve is negatively sloped. B) the supply curve is positively sloped. C) supply creates its own demand. D) economic units should produce those goods for which they are low-opportunity-cost producers.
Economics