The rise in unemployment that occurs because of a recession is known as cyclical unemployment, because it is closely tied to the ______________.
a. natural rate of unemployment
b. business cycle
c. supply curve
d. labor supply
b. business cycle
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The short-run supply curve for the perfectly competitive firm is that part of the marginal cost curve that lies above the average fixed cost curve.
Answer the following statement true (T) or false (F)
If a subsidy was imposed on an industry whose production imposed external benefits on others, then the goods' consumers of the good would be ____ and the result would be a(n) ____ in efficiency
a. better off; increase. b. better off; decrease. c. worse off; increase. d. worse off; decrease.
If a decrease in income increases the demand for a good, then the good is a(n)
a. substitute good. b. complementary good. c. normal good. d. inferior good.
International capital flows are:
A. sales of domestic goods or services to foreigners. B. purchases of foreign goods or services. C. purchases or sales of real and financial assets across international borders. D. exports plus imports.