If there is a prolonged recession and, at the same time, technological advances change the skill sets of some jobs and eliminate others, what type of unemployment gets larger?
A. Seasonal.
B. Structural.
C. Frictional.
D. None of the choices are correct.
Answer: B
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Differences in tastes among nations
a. make gains from trade possible even in the absence of differences in resource endowments b. make gains from trade possible only when there are differences in resource endowments c. negate any potential gains from trade d. are caused by differences in resource endowments e. occur only among countries whose people are of different religions
M2 money includes all but which one of the following?
a. Checkable deposits. b. Savings accounts. c. Large repurchase agreements. d. Money market mutual accounts. e. Small time deposits.
Pure monopoly: a. is characterized by a single supplier
b. is a market structure in which no close substitute products are available. c. exists when entry and survival of potential competitors is extremely unlikely. d. is characterized by all of the above.
If the average price level in 1991 was 1.20 relative to the base year in 1986, then a dollar in 1991 bought 20 percent more goods and services than a dollar in 1986
a. True b. False Indicate whether the statement is true or false