Which type of unemployment is most closely connected with the saying "you can't teach an old dog new tricks"?
a. cyclical
b. frictional
c. structural
d. voluntary
e. involuntary
C
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The traditional definition of a recession is a decline in real GDP lasting for
A) at least one month.
B) at least two consecutive quarters.
C) at least one year.
If the price of beef jerky rises, the substitution effect due to the price change will cause
A) an increase in the demand for hot sauce, a complement for beef jerky. B) a decrease in the quantity of beef jerky demanded. C) an increase in the quantity of beef jerky demanded. D) an increase in the demand for beef jerky.
Figure 33-8
?
In Figure 33-8, which of the following movements reflects the closing of a recessionary gap through the economy’s self-correcting mechanism?
A. A to B B. A to C C. C to E D. D to E
The WTO and GATT promote trade by:
A. reducing tariffs. B. eliminating quotas. C. reducing agricultural subsidies. D. All of these.