Which of the following workers is least likely to lose his/her job during a recession?
A. Carpenter
B. Police officer
C. Automobile assembly line worker
D. Roofer
Answer: B
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When there are significant costs involved with coordinating a private solution to an externality:
A. a leader will likely be elected to organize the coordination. B. it can act as a motivating factor to solve the externality problem expediently. C. it likely will not happen. D. None of these statements is true.
If the price level were to rise from 160 to 200, in what direction and by how much would the value of a dollar change?
Suppose the economy has a recessionary gap. If supply-side effects are very strong in relation to the demand-side effects,
A) the impact of tax cuts will be strengthened because the increase in disposable income induces consumption, which in turn encourages firms to expand production, thereby shifting the short- run aggregate supply curve to the right. B) the impact of tax cuts will be strengthened because in addition increasing aggregate demand, long-run and short-run aggregate supply will also increase. C) the impact of increased transfer payments to help re-tool the unemployed with new skills will be strengthened, thereby shifting the aggregate demand curve further to the right. D) the impact of increased transfer payments to help re-tool the unemployed with new skills will be strengthened, thereby shifting the short-run aggregate supply curve to the right.
Refer to the information provided in Figure 6.15 below to answer the question that follows.
Figure 6.15Refer to Figure 6.15. Why is Jason not maximizing his utility at point B?
A. His marginal utility per dollar spent on the last sandwich is less than his marginal utility per dollar spent on his last hot dog. B. His marginal utility per dollar spent on the last sandwich is greater than his marginal utility per dollar spent on his last hot dog. C. He is not spending his entire budget. D. He is maximizing his utility at point B.