Q. Which of the subsequent represents a positive macroeconomic statement?
The national unemployment rate is higher during severe economic downturns than during period of substantial economic growth or an industry operating in a perfectly competitive marketplace will maximize profit by producing where marginal revenue equals marginal cost.
Q. Assume the United States can produce Toyotas at the cost of $19,000 per car also Chevrolets at $17,000 per car. In Japan, Toyotas can be produced at 2,300,000 yen also Chevrolets at 2,000,000 yen.