Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A.
B. A to C.
C. C to D.
D. B to D.
Answer: B
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The above table gives some production and cost information for Flaming Fernando's, a restaurant that sells Fiery Frijoles. Between what two levels of output does the marginal cost of producing Fiery Frijoles first begin to rise?
A) 0 and 1000 B) 1000 and 3000 C) 3000 and 4000 D) 4000 and 4500
In 1790, there were only three banks in the U.S. By 1811, there were 88 . Most of these new banks were:
a. created and operated by the federal government. b. created and operated by state and local governments. c. private-sector, state-chartered banks. d. branches of banks with English charters.
In economics, the term "marginal" usually refers to
a. a small change in an economic variable b. a low-quality product or resource c. an unimportant and irrelevant economic variable d. an all-or-nothing economic decision e. a footnote or minor point
The school of thought that emphasizes the possibility that an economy can be in equilibrium at less than full employment with inflation and argues that by managing aggregate demand, government can achieve the most acceptable combination of unemployment and inflation is the
a. Keynesian b. neo-Keynesian c. monetarist d. supply-side school e. rational expectations school