A typical supply curve shows that an increase in the price of a good will cause producers to decrease the quantity they supply. a) True ( b) False The unemployment rate measures individuals 16 years of age and older without jobs who are actively seeking employment. ( a) True ( b) False It is important that any government examine multiple measures of its own economic health, rather than relying on simply one or two dimensions. () a) True ) b) False
A typical supply curve shows that an increase in the price of a good will cause producers to decrease the quantity they supply. a) True ( b) False The unemployment rate measures individuals 16 years of age and older without jobs who are actively seeking employment. ( a) True ( b) False It is important that any government examine multiple measures of its own economic health, rather than relying on simply one or two dimensions. () a) True ) b) False
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter15: Poverty And Economic Inequality
Section: Chapter Questions
Problem 8SCQ: Using two demand and supply diagrams, one for the low-wage labor market and one for the high-wage...
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Question
A typical supply curve shows that an increase in the price of a good will cause producers to decrease the quantity they
supply.
a) True
( b) False
The unemployment rate measures individuals 16 years of age and older without jobs who are actively seeking
employment.
( a) True
( b) False
It is important that any government examine multiple measures of its own economic health, rather than relying on
simply one or two dimensions.
() a) True
) b) False
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