ECO 561 Chapter 5 Quiz(uop)
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Question 1
The demand for lumber decreased in August. Supply of lumber has remained constant and five months later there still has been no change in lumber prices. This is an example of
Question 2
A group of Senators introduce legislation that would subsidize employers' hiring of recent high school graduates. This legislation is designed to stimulate the economy. This legislation is in line with
Question 3
Fine tuning refers to
Correct: The government's part in controlling rising cost of living as well as joblessness.
Question 4
The percentage of the labor force that is unemployed is the
Question 5
The diagram that shows the income received and payments made by each sector of the economy is the
Question 6
The demanders in the goods-and -services market are:
Question 7
Aggregate supply is the total amount
Question 8
According to Keynes, the level of employment is determined by wages and prices.
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ECO 561 Chapter 3 Quiz(uop)
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CHAPTER 3 QUIZ
Question 1
The demand curve facing each wool producer is ________ starting at $3.00 per pound
Question 2
If a firm in a perfectly competitive industry raises price above market price,
Question 3
The fast food industry is not considered perfectly competitive because:
Question 4
You are certain that a normal rate of profit is 18% for the fast-food industry. What is your estimate of a normal rate of profit in the computer software industry, which is considered to be much riskier than the computer industry?
Question 5
Situation 1:
You are the owner an only employee of a company that writes computer software that is used by doctors to bill patients. Last year you earned a total revenue...