Answer:
True
Explanation:
When the economy is at full employment, the actual and natural unemployment rates are same with the zero cyclical unemployment.
Answer:
A. Lobster and caviar are easily affordable in some neighborhoods, while hotdogs and coleslaw are easily affordable in others
Explanation:
Answer:
The correct answer is A
Explanation:
Marginal product is the term which is defined as the change in the output which results from employing a unit of the specific input.
For example, The change in the output of labor when the labor increase from four to five.
So, MPL (Marginal Product of Labor), is defined or described as the change or variation in output consequence from employing an additional or extra unit of labor.
Therefore, the MPL is the additional or change in sales revenue which results from one more pr additional worker or labor is hired.
The answer would be A. Shoes.
It is implied that a good has an inelastic supply if the supplier does not have a choice other than producing it despite the change in production cost. This would as well apply to the buyer, who needs the product no matter the pricing.No one can live without shoes, despite a spike in prices, we still need to buy them.