When the automobile replaced horse-drawn carriages as the principal means of transportation, firms producing horse-drawn carriages went bankrupt and permanently laid off all their workers, thereby increasing i. seasonal unemployment. ii
structural unemployment. iii. cyclical unemployment. A) i only
B) ii only
C) i and iii
D) i and ii
E) ii and iii
B
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In the figure above, Gap maximizes its profit if it sells ________ jackets per day
A) 100 B) 64 C) 129 D) 133
A country seeking to maintain internal balance would be concerned
A) only with attaining low levels of unemployment. B) primarily with ensuring that saving is weighted more towards domestic investment than the current account. C) with large fluctuations in output or prices. D) with maintaining an adequate stock of gold reserves. E) with stabilizing employment levels globally.
The Matching Pennies game is an example of a:
A) constant-sum game. B) nonconstant sum game. C) game with an equilibrium in dominant strategies. D) none of the above
Necessities and luxuries are both types of normal goods
a. True b. False