Recessions are periods of declining economic activity.
Answer the following statement true (T) or false (F)
True
You might also like to view...
The quantity of real GDP supplied ________ when the price level increases because ________
A) increases; the real wage rate falls B) decreases; investment increases C) increases; the quantity of money increases D) increases; aggregate demand increases E) decreases; the real wage rate rises
Laura is a gourmet chef who runs a small catering business in a competitive industry. Laura specializes in making wedding cakes. Laura sells 20 wedding cakes per month. Her monthly total revenue is $5,000 . The marginal cost of making a wedding cake is $300 . In order to maximize profits, Laura should
a. make more than 20 wedding cakes per month. b. make fewer than 20 wedding cakes per month. c. continue to make 20 wedding cakes per month. d. We do not have enough information to answer the question.
You paid $35 for a ticket (which is non-refundable) to see SPAM, a local rock band, in concert on Saturday. Assume that $35 is the most you would have been willing to pay for a ticket. Your boss called, and she is looking for someone to cover a shift on Saturday at the same time as the concert. You would have to work 4 hours and she would pay you $11/hr. The psychic cost to you of working is $2/hr. What is your opportunity cost of going to work on Saturday?
A. $0 B. $9 C. $36 D. $35
Structural unemployment is increased when workers can afford to be unemployed for longer periods of time as a result of:
A. unemployment insurance. B. minimum wage laws. C. worker mobility. D. skill-biased technological change.