As output? (GDP) is? increasing, the amount of cyclical unemployment would
A. decrease.
B. increase.
C. either increase or decrease.
D. remain constant.
Ans: A. decrease.
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Which of the following is a consequence of free riders?
A. The government always steps in to produce the good or service. B. The good or service is produced regardless. C. The good or service is never produced because not enough people paid to use it. D. Consumers are better off by not having the good or service be produced.
Based on the data in the above table, at what level of output does the marginal cost start to rise at Jefferson's Cleaners?
A) 45 suits per day B) 47 suits per day C) 74 suits per day D) 85 suits per day
Adverse selection is the tendency for people who accept contracts to be those who
A) buy goods and then regret it later. B) buy goods for more than their own reservation price. C) plan to use private information to the disadvantage of the less well-informed party. D) engage in a number of searches larger than that specified in the contract.
The "WIN" button approach to breaking a wage-price spiral was proposed by President Nixon to a joint session of Congress
a. True b. False Indicate whether the statement is true or false