Which labor market statistic tends rise during recessions and fall during expansions?
A) the unemployment rate
B) the labor-force participation rate
C) the employment-to-population ratio
D) aggregate hours
A
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The price elasticity of demand for a good is 0.2 . A 10 percent rise in the price will _______ the total revenue from sales of the good
A. decrease B. increase C. decrease the quantity sold with no change in D. not change
If the government sells certificates giving the certificate owner permission to emit a particular amount of pollution, and then allows these certificates to be bought and sold at a market price, then the government is using a market-based approach to pollution reduction called
A. command-and-control regulation. B. tradable pollution permits. C. mitigation. D. a carbon tax.
To maintain market power, firms will sometimes purchase their competitors.
Answer the following statement true (T) or false (F)
Trading off capital goods for increasing amounts of consumer goods today will most likely result in
A. decreased long-term growth. B. increases in the quantity of consumer goods. C. decreased prices in consumer goods. D. increased long-term growth.