The unemployment rate
A) rises during times of rapid economic growth and falls during times of slow economic growth.
B) rises during recessions and falls during booms.
C) rises during booms and falls during recessions.
D) tends to remain the same in booms and recessions.
B
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In the figure above, which budget line results in the most real income in terms of carrots?
A) AD B) BD C) CD D) Real income is equal for all three budget lines.
What rights does ownership interest give stockholders?
What will be an ideal response?
Suppose that Dianne Lindsay spends all her income on two goods, A and B, in a manner in which their marginal utility to price ratios are equal, i.e., MUa/Pa = MUb/Pb. If at that time the price of A is higher than the price of B, then she
a. should increase her consumption of A and decrease her consumption of B because the marginal utility of A is higher b. is already maximizing her total utility and should make no change c. should increase the consumption of B and decrease the consumption of A because the price of B is lower d. should increase the consumption of both A and B since the ratios are equal e. has made an irrational choice
Exhibit 5-5 Demand curve for computers
?
In Exhibit 5-5, the change in total revenue resulting from a change in price from A to D indicates that the demand curve is:
A. elastic. B. inelastic. C. unitary elastic. D. nonelastic.