If this is a closed economy, what will the price of a bike be?
A. $40
B. $100
C. $20
D. $140
Answer: B
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To operate efficiently, an economy generally "needs" ________ unemployment
A) structural B) cyclical C) seasonal D) frictional
Inmates from the county prison who are on work release are counted as part of the labor force
a. True b. False Indicate whether the statement is true or false
Explain the reason behind the declining gap between average cost (AC) and average variable cost (AVC) curves at higher levels of output
Which of the following individuals would most likely favor an increase in government spending, as opposed to a tax cut, as the basis for expansionary fiscal policy?
a. "There must be a constant philosophical prejudice against any intervention by the state into our lives, for by definition such intervention abridges liberty."-William Simon b. "The bastards [read politicians] can't spend what they don't have."-Howard Jarvis c. "The family that takes its mauve and cerise, air-conditioned, power-steered, power-braked automobile through cities that are badly paved, made hideous by litter, [and] blighted buildings...to picnic beside a polluted stream amid the stench of refuse may properly reflect on the curious unevenness of their blessings."-J.K. Galbraith d. "Public expenditures are made for the primary benefit of the middle class and financed with taxes on the poor and rich."-Director's Law