Which of the following is NOT a possible cause of structural unemployment?
A. individuals take the time to search for the best job opportunities
B. a mismatch of worker training and skills with requirements of employers
C. union activity that sets wages above the equilibrium level
D. government-imposed minimum wage laws
Answer: A
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Figure 10-3
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In Figure 10-3, the perfectly competitive firm is realizing a
A. loss equal to ABCE. B. profit equal to ABCE. C. profit equal to ABDF. D. loss equal to ABDF.
Answer the following statement(s) true (T) or false (F)
1. A borrower sells bonds, and a lender buys bonds. 2. A change in the price of bonds causes a change in interest rates. 3. A bond that promises a series of payments on different dates is a perpetuity. 4. It would be irrational to promise to make an infinite number of payments in exchange for a finite amount of goods. 5. The present value of a perpetuity falls when the interest rate rises.
The equation of exchange is expressed as:
A. MV = PQ. B. MR = PQ. C. MPP = P. D. MR = MC.
Refer to the information provided in Table 24.6 below to answer the question(s) that follow.Table 24.6All Figures in Billions of Dollars
Refer to Table 24.6. The economy is at the equilibrium level of output. If government spending decreases by $100 billion, the new equilibrium level of output is
A. $3,100 billion. B. $2,400 billion. C. $1,550 billion. D. $1,450 billion.