There is a trade-off between unemployment and inflation when the aggregate
A. Supply curve is upward-sloping.
B. Supply curve is vertical.
C. Demand curve is upward-sloping.
D. Supply curve is downward-sloping.
Answer: A
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If an economy produces 3 million oranges that sell for $0.25 each and 100,000 cars that sell for $25,000 each, then when the market value of total output is calculated:
A. oranges receive a smaller weight than cars. B. oranges receive the same weight as cars. C. oranges receive a greater weight than cars. D. the market value of oranges is excluded.
Which of the following is NOT an example of traditional authority?
a. supervisor b. vice president c. bishop d. secretary
According to the World View excerpt that compares GDP figures for several nations, Japan's real GDP is approximately
A. More than that of China. B. More than that of Germany. C. Second only to that of the United States. D. All of the choices are correct.
Which of the following is an example of mechanism design?
A. health insurance with zero co-pays B. an employer pays all sales people a fixed salary C. reduced prices on bulk purchases D. welfare reform that limits the amount of time a person can collect benefits