During an economic boom:
A. the level of unemployment tends to be high.
B. it is difficult for firms to recruit and retain workers.
C. firms have an easier time purchasing raw materials.
D. prices tend to decrease over time.
Answer: B
You might also like to view...
Which of the following countries has the greatest degree of measured income inequality?
a. Canada b. France c. United States d. Japan
Figure 10-4
Starting from long-run equilibrium at point F in , at which of the following points would short-run equilibrium occur following a decrease in resource prices?
a.
I
b.
F
c.
G
d.
H
The law of demand
A) was passed by the 102nd U.S. Congress. B) is a natural law, much like the law of gravity. C) is considered a "law" in economics because of the overwhelming empirical evidence that supports its logic. D) is considered a "law" in economics in order to force economic models to operate fully.
Refer to the information provided in Table 33.1 below to answer the question(s) that follow. Table 33.1
Refer to Table 33.1. For both countries to benefit from trade, the terms of trade must be between ________ bushel(s) of oranges to bushel(s) of bananas.
A. 2:3 and 2:1 B. 1:1/2 and 1:4 C. 1:1 and 1:2. D. 1:1 and 1:1/2