If workers do not have the skills that are required in the job market, which of the following will occur?
A. Cyclical unemployment.
B. Structural unemployment.
C. Seasonal unemployment.
D. Frictional unemployment.
Answer: B
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If a country has a comparative advantage in producing a product, it must also have an absolute advantage in producing that product
Indicate whether the statement is true or false
Calculate the government spending multiplier if, an increase in government spending by $5 million increases real GDP by $25 million
a. 0.2 b. 0.5 c. 2 d. 5 e. 6
In the short run, an expanded money supply leads to:
a. a higher nominal interest rate. b. no change in the nominal interest rate. c. a lower nominal interest rate. d. an increase in the exchange rate.
An oral auction
a. is also called an English auction
b. is where bidders submit increasing bids until all but one remains
c. is where the sole remaining bidder wins and pays his winning bid
d. all of the above