The slope of a curve measures:
A. the change in the vertical variable in response to the change in the horizontal variable.
B. the length of the curve.
C. only the change in the horizontal variable.
D. only the change in the vertical variable.
Answer: A
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The duration of an expansion is measured from:
A. peak to peak. B. peak to trough. C. trough to trough. D. trough to peak.
After the passage of the North American Free Trade Agreement, which made it less expensive to import goods from Mexico, workers in some industries found their factories being relocated to Mexico to take advantage of lower labor costs
These workers experienced what type of unemployment? A) cyclical B) trade C) foreign D) structural E) frictional
If the United States starts to import a good that had previously been produced in the United States, the market price of the good in the United States
A) rises. B) falls. C) remains constant. D) either remains constant or rises, depending on how whether the supply of the good stays the same or increases. E) There is not enough information to answer the question because we need to know if the market price in the United States had been above or below the world market price before trade began.
Diminishing returns to labor implies that eventually the marginal product of labor will become negative.
a. true b. false