Typically, the unemployment rate ________ during a recession and ________ during an expansion.
A. rises; does not change
B. rises; falls
C. rises; rises even more
D. falls; rises
Answer: B
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Does a rise in the price level bring a movement along the aggregate supply curve or does it shift the aggregate supply curve?
What will be an ideal response?
A positive externality causes
A) the marginal social benefit to be less than the marginal private cost of the last unit produced. B) the marginal private benefit to exceed the marginal social cost of the last unit produced. C) the marginal social benefit to exceed the marginal private cost of the last unit produced. D) the marginal social benefit to be equal to the marginal private cost of the last unit produced.
What is the difference between comparative advantage and absolute advantage?
What will be an ideal response?
A deadweight loss of consumer and/or producer surplus occurs when
a. producers fail to maximize profits. b. mutually beneficial transactions cannot be completed. c. consumers do not maximize their utility. d. the price of inputs increases.