Unemployment compensation is
A. not an automatic stabilizer.
B. an automatic stabilizer because it falls as income decreases, slowing an economic contraction.
C. an automatic stabilizer because it falls as income increases, slowing an economic expansion.
D. an automatic stabilizer because it rises as income increases, slowing an economic expansion.
Answer: C
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The number of buyers of sport utility vehicles, SUV, decreases sharply. So the
A) demand curve for SUVs shifts leftward. B) demand curve for SUVs shifts rightward. C) demand curve for SUVs does not shift, nor is there a movement along then demand curve. D) demand curve for SUVs does not shift, but there is a movement downward along it. E) supply curve for SUVs shifts rightward.
In the above figure, the profit-maximizing output for this single-price monopoly is ________ units and the price is ________
A) 200; $10 B) 300; $20 C) 500; $50 D) 200; $30 E) 300; $30
Which of the following is an example of a renewable natural resource?
a. the knowledge possessed by scientists b. carpenters' labor services c. lumber d. All of the above are correct.
The demand for microwaves in a certain country is given by: D = 8,000 -30P, where P is the price of a microwave. Supply by domestic microwave producers is: S = 4,000 + 10P. If this economy opens to trade while the world price of a microwave is $50, how many microwaves will be imported or exported?
A. 2,000 imported B. 2,000 exported C. 1,000 imported D. 3,000 exported