When an individual who has not been working but has been looking for work decides to terminate the search process, the official unemployment rate
A) will fall.
B) will rise.
C) will remain unchanged.
D) may fall or rise depending on whether or not the individual resumes his education.
A
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
Consider a good whose own price elasticity of demand is -1.5 and price elasticity of supply is 0.5. The fraction of a specific tax that is borne by producers is ________
A) 0 B) 0.25 C) 0.5 D) 0.75 E) 1
A firm facing a downward-sloping demand curve sells 50 units of output at $10 each. The firm's marginal revenue is
a. $500 b. more than $10 but less than $500 c. $10 d. less than $10 e. zero
A major reason for the existence of inflationary and deflationary gaps is that
a. corporations do most of the nation's saving. b. saving and investing are done by people with no social conscience. c. consumers do most of the nation's saving. d. saving and investing are done by different groups.