If you hear a person saying "I lost my job because I was replaced by a machine," you should conclude that this person is ________ unemployed.
A. seasonally
B. cyclically
C. structurally
D. frictionally
Answer: C
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The aggregate demand curve shows the
A) total amount of nominal goods that the participants in the economy want to purchase. B) amount of goods producers will produce as production costs fall. C) total amount of real goods that foreigners want to purchase. D) total amount of planned expenditures on goods and services at each possible price level.
Workers who work the night shift at factories are paid more than similar workers who work the day shift due to a
A famous American has been visiting the same tropical island for 15 years for vacations. When she goes she pays for everything by writing checks drawn on her U.S. bank. The currency the natives use are not U.S. dollars; they use a currency called a fungo. The natives never cash her checks. She is so well known on the island that the natives simply trade her checks among themselves. The question you need to answer, complete with an explanation, is: who is paying for her vacation? (You can assume her bank would honor the checks if presented for payment even after a considerable period of time has passed.)
What will be an ideal response?
The classicals believed that when savings exceeds investment.
A. demand is reduced and the economy will go into a recession. B. the interest rate will decline and equate savings and investment. C. an increase in supply will encourage higher investment spending. D. if savings is greater than investment unemployment would reduce savings.