The basic data source to track the number of unemployed comes from a calculation of applications for new unemployment benefits
a. True
b. False
Indicate whether the statement is true or false
False
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If you must make a choice about consuming two apples, three oranges, or one candy bar, the opportunity cost of the candy bar is:
a. two apples. b. three oranges. c. two apples and three oranges. d. two apples or three oranges, whichever you prefer more. e. equal to the difference in the prices of the three options.
The deregulation of the banking industry, unintentionally, but eventually
a. created a boom for savings and loans that lasted a full decade b. had no dramatic effect on savings and loans but upset the stability of the banking system for well over a decade c. caused many savings and loans to go bankrupt within a few years d. caused many savings and loans to merge with other banks, which resulted in a surge in interest rates e. had no effect on the interest rates that savings and loans charged but it did affect the extent of loans, which more than doubled in a few years
Discrimination is an example of a rationing mechanism that may naturally develop in response to a binding price floor
a. True b. False Indicate whether the statement is true or false
A year-long drought that destroys most of the summer's crops would be considered a:
A. short-run supply shock. B. long-run demand shock. C. long-run supply shock. D. short-run demand shock.