How much did employment fall by during the Great Recession?
a. 8 million
b. 9 million
c. 10 million
d. 11 million
a
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An increase in the time spent on job search
A) decreases the unemployment rate. B) decreases the real wage rate. C) decreases the labor force participation rate. D) decreases potential GDP. E) decreases the demand for labor.
If no beautification projects were undertaken in a city except by private individuals or firms, the city would almost surely be less beautiful than otherwise comparable cities because
A) aesthetic standards vary so widely. B) it is extremely difficult to induce people to pay on a voluntary basis for the pleasure they receive from urban beautification projects. C) people may enjoy beauty, but they are not willing to pay for it. D) private individuals and firms generate more external costs than benefits.
Refer to Table 19-9. Suppose that the above table represents the goods and services produced in a very simple economy in 2016. Assume that steel is used as an input in the production of autos. Using that information, calculate GDP for the year 2016
What will be an ideal response?
If Pizza at Home and Pizza in Your Fridge are two competing frozen pizza firms and Pizza at Home wants to make a threat to Pizza in Your Fridge more credible, they can do all of the following except which one?
A) take action to lower the firm's costs B) take action to increase the firm's capacity C) make Pizza in Your Fridge aware of Pizza at Home's plans D) keep Pizza in Your Fridge in the dark regrading Pizza at Home's plans