Many economists would argue that some frictional unemployment
A. creates massive economic disruptions and should be eliminated as quickly as feasible.
B. cannot and probably should not be eliminated.
C. no longer exists because increased unemployment benefits have generally solved this problem.
D. should be eliminated whatever the cost.
Answer: B
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If you buy a futures contract for U.S. Treasury bills and on the delivery date the interest rate on T-bills is lower than you expected, you will have
A) lost money on your long position. B) gained money on your long position. C) lost money on your short position. D) gained money on your short position.
The command economy of World War I (1914–18) possessed which of the following traits?
(a) Decentralized decision-making in the markets (b) The creation of many state agencies (c) Volunteers for the armed forces (d) Centralized decision making by bureaucrats
What are the assumptions of the model of perfect competition? Explain why each is important for short-run and long-run equilibrium
A country that increased its literacy rate and thereby its average human capital would probably
A. Increase GDP. B. Have not impact on GDP. C. Decrease GDP. D. None of the choices are correct.