Disguised unemployment refers to
a. workers who shirk their responsibilities and don't contribute to output
b. unemployed people who don't admit they are unemployed
c. workers whose output is valued at less than their wage
d. unemployed people who pretend to be working
e. none of the above
C
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If disposable income increases from $5 trillion to $6 trillion and, as a result, consumption expenditure increases from $7 trillion to $7.8 trillion, the MPC is
A) 1.0. B) 6 ÷ 7 = 0.86. C) 6 ÷ 7.8 = 0.77. D) 5 ÷ 7 = 0.71. E) 0.8.
In the summer 2012 the lobster catch in Maine was especially large, but instead of celebrating the fisherman were suffering from a lower total revenue. (Source: New York Times, July 28, 2012 ) As the lobster catch increases, there is
A) a movement along the demand curve, resulting in a higher price and a decreased quantity. B) a movement along the demand curve, resulting in a lower price and an increased quantity. C) no change in either the price or the quantity. D) a movement along the demand curve, resulting in a higher price and an increased quantity.
What is offshore outsourcing? Who benefits from it and who loses?
What will be an ideal response?
In combating stagflation, a government-induced:
a. increase in aggregate demand would help reduce inflation but aggravate unemployment. b. decrease in aggregate demand would help reduce unemployment but aggravate inflation. c. increase in aggregate demand would help reduce unemployment but aggravate inflation. d. decrease in aggregate demand would help reduce both unemployment and inflation. e. increase in aggregate demand would help reduce both unemployment and inflation.