Which of the following is the best example of a perfectly competitive market?
a. automobiles
b. postal service
c. disk operating system software
d. milk
e. breakfast cereals
D
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Unemployment that is the result of recessions is called
A) frictional unemployment. B) cyclical unemployment. C) downtime unemployment. D) structural unemployment.
Which of the following would not cause a change in the supply of milk?
a. an increase in government subsidies to dairy farmers b. an increase in the price of milk c. the discovery of growth hormones to stimulate the milk production of cows d. an increase in the cost of feed for cows
To overcome persistent inflation, what might policy makers reduce to lower demand in an economy?
a. payroll taxes b. government spending c. interest rates d. customs duties
The official definition of poverty is based on a comparison of cash and in-kind benefits with family size.
Answer the following statement true (T) or false (F)