Protecting intellectual property rights:
A. never benefits society.
B. is hotly debated as to whether it benefits or costs society overall.
C. rarely affects society overall.
D. always benefits society.
Answer: B
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A shortage occurs when the market price is lower than the equilibrium price
Indicate whether the statement is true or false
As the recession persisted into 2009, the unemployment rate in the United States rose to ________, the highest rate since the recession of 2001-2002 and the second highest since the Great Depression
A) 5.5 percent B) 9.3 percent C) 17.6 percent D) 25.1 percent
The aggregate demand curve shifts to the left when there is ________
A) autonomous tightening of monetary policy B) an increase in the nominal interest rate C) an increase in inflation D) all of the above E) none of the above
The question of how a tax change might impact U.S. economic output is most closely associated with the study of
A) microeconomics. B) managerial economics. C) macroeconomics. D) consumer economics.