Unemployment that is caused by business recessions is called
A) frictional unemployment.
B) cyclical unemployment.
C) seasonal unemployment.
D) structural unemployment.
B
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The most unequal distribution of income in the United States is in Washington, D.C
Indicate whether the statement is true or false
If a 50 percent increase in the price of pizza results in a 25 percent decrease in the quantity demanded of pizza, then the price elasticity of demand for pizza:
a. is equal to 0.5 and demand for pizza is inelastic. b. is equal to 0.5 and demand for pizza is elastic. c. is equal to 2 and demand for pizza is elastic. d. is equal to 2 and demand for pizza is inelastic. e. cannot be determined from the information provided.
When the Fed conducts open-market operations, it primarily uses
a. Treasury bills. b. long-term U.S. government bonds. c. bonds of publicly traded corporations. d. overnight loans of major banks.
The change in total cost that results from the production of one additional unit is called:
A. marginal revenue. B. average variable cost. C. marginal cost. D. average total cost.