In explaining internally induced cycles, changes in investment and changes in national income are
a. independent of each other
b. mutually reinforcing
c. unrelated to the income multiplier
d. rarely moving in the same direction
e. dependent on changes in population
B
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The official unemployment rate would be higher if it included the existence of hidden unemployment or individuals who are: a. on unemployment compensation
b. not working. c. working part time but prefer full-time work. d. voluntarily retired. e. unemployed and looking for work.
The deregulation of a few major industries began in the
A. late 1950s. B. late 1960s. C. late 1970s. D. late 1980s.
According to Keynes, when the economy falters, the government should do any of the following except
A. Make more money available. B. Buy more output. C. Practice a laissez faire policy approach. D. Provide more dollars for unemployment benefits.
Tanesha sells homemade candles over the Internet. Her annual revenue is $64,000 per year, the explicit costs of her business are $17,000, and the opportunity costs of her business are $22,000. What are the implicit costs of her business?
A) $17,000 B) $22,000 C) $39,000 D) $47,000