A competitive equilibrium is a state of affairs in which
A) markets clear, and output is maximized.
B) output is maximized, and all agents are equally well-off.
C) all agents are equally well-off and agents are price-takers.
D) economic agents are price takers and markets clear.
D
Economics
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In the table above, the official U-3 unemployment rate is
A) 50 percent. B) 15 percent. C) 10 percent. D) 5 percent.
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A change in technology or the relative prices of the inputs used in a production process would cause a manager's choice of inputs to use in the production process to change as well
Indicate whether the statement is true or false
Economics