Depression and lost self-esteem are examples of the ________ costs of unemployment, while the lost income and tax revenue are examples of the ________ costs of unemployment.
A. psychological; economic
B. economic; psychological
C. economic; social
D. social; psychological
Answer: A
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Refer to Table 19-23. Suppose that a very simple economy produces three goods: pizzas, haircuts, and backpacks. Suppose the quantities produced and their corresponding prices for 2011 and 2016 are shown in the table above
Use the information to compute real GDP in the year 2011 and 2016. Assume that 2011 is the base year. Is output higher in 2016 or 2011? Why?
In a franchised network in which all managers are required to pay a percentage of their sales to pay for system-wide advertising, there ________ a free -rider problem and it is ________ likely that the system-wide quantity of advertising will be optimal.
A) is; less B) is not; more C) is not; less D) is; more
According to the liquidity preference model, if the interest rate rises above its equilibrium value, the quantity demanded of nonmonetary interest-bearing financial assets _____, and this leads to a _____ in the interest rate.
A) decreases; rise B) increases; fall C) decreases; fall D) increases; rise
The time it takes for the policy actually to have an impact on the economy is called
A) the data lag. B) the recognition lag. C) the legislative lag. D) the implementation lag. E) the effectiveness lag.