Which of the following types of unemployment would be reduced by government- subsidized retraining programs?
a. cyclical
b. frictional
c. seasonal
d. structural
d. structural
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An increase in the price a firm receives for its output will lead the firm to:
A. leave output unchanged and earn greater profits. B. reduce output. C. expand output. D. leave output unchanged and earn smaller losses.
One reason China has been able to grow so rapidly even though its financial development is still in its early stages is
A) the high savings rate of around 40%. B) the shift of labor to the agricultural sector. C) the stringent enforcement of financial contracts. D) the ease of obtaining high-quality information about creditors.
A rise in aggregate expenditure is always
a. smaller than the rise in income that causes it b. larger than the rise in income that causes it c. the same as the rise in income that causes it d. smaller than the increase in consumer spending that causes it e. smaller than investment spending
Which of the following is true of a monopolistic competition in long run equilibrium?
a. P=ATC and MR=MC b. P=ATC and P=MC c. P=MR and P=MC d. P>ATC and P>MR e. P>ATC and MR=MC