If you look for a job for eighteen months after graduation, but fail to generate an offer, even after lowering your expectations, the economy is probably in the business cycle phase called a:
A. recession.
B. peak.
C. boom.
D. recovery.
Answer: A
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An increase in supply will have what effect on equilibrium price and quantity?
A. Price will increase; quantity will decrease. B. Price will decrease; quantity will increase. C. Both price and quantity will increase. D. Both price and quantity will decrease.
Suppose an economist stated that Brazil had achieved its potential GDP 2013. This would imply that at this level of real GDP, Brazil experienced
A) peak in its business cycle in 2013. B) unemployment equal to zero. C) inflation equal to zero. D) full employment. E) a negative Okun Ga
Use the information in the table above to calculate the value of net exports
A) $10 million B) $0 C) -$10 million D) $30 million
The government sector balance is equal to ________
A) net taxes minus government purchases of goods and services B) tariffs minus imports C) saving minus investment D) exports minus imports