The Law of Supply states that when the market price ______, the profit-maximizing sales quantity for a price taking-firm never ______.

If the labor force participation rate in an economy is 50%, and there are 100 million potential adult workers in the economy, the size of the labor force in the economy will equal:

A) 10 million. B) 2 million. C) 100 million. D) 50 million.

In a business cycle, the period following a trough is called an expansion

Indicate whether the statement is true or false