Investors face the risk that the economy could go into another recession. This risk is:
A. Idiosyncratic
B. Diversifiable
C. Systemic
D. Time preference
C. Systemic
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A tariff can be defined as a:
a. tax on imports. b. tax on exports. c. legal limit on imports. d. legal limit on exports.
Frictional unemployment is the result of
a. not enough jobs for everyone to be employed. b. unemployed workers' skills not matching those needed for the available jobs. c. a decline in the demand for labor, such as during a recession. d. imperfect information and temporary periods of unemployment while workers are changing jobs.
The Carters' oldest son attends Big State University. He and his parents pay all his fees and tuition. These payments count in GDP as
a. investment. b. government spending. c. consumption of services. d. consumption of durable goods.
Refer to the data. Average product is at a maximum when:
Answer the question on the basis of the following output data for a firm. Assume that the amounts of all nonlabor resources are fixed.
A. five workers are hired.
B. four workers are hired.
C. three workers are hired.
D. two workers are hired.