According to Figure 2.5, the United States civilian employment ratio in June 2013 was ________
A) 66.7%
B) 43.8%
C) 59%
D) 64.0%
E) none of the above
C
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When government intervenes in the production process because external costs exist, it typically attempts to shift the industry's
A) demand curve to the right. B) demand curve to the left. C) supply curve to the right. D) supply curve to the left.
Cost pull inflation occurs when the:
A. price of a key input increases suddenly. B. price level changes in response to changes in the business cycle. C. price of necessity goods increases suddenly. D. business cycle becomes sporadic and unpredictable.
The main components of spending, which can cause changes in aggregate demand, are: a. consumption, investment, government purchases, and net exports
b. consumption, investment, government purchases, and imports. c. investment, savings, replacement of depreciated equipment, and spending. d. consumption, savings, government purchases, and exports.
All solutions to market failures in markets for public goods or common resources:
A. try to force the internalization of externalities. B. are not perfect, and total surplus cannot be maximized in these markets. C. need to be accepted by the affected parties to be effective. D. must be provided by the government.