It is difficult for cyclically unemployed persons to find jobs because
a. they typically do not meet the qualifications required for the available jobs
b. the economy is in a recession
c. they voluntarily quit their last jobs and employers may view them as unreliable
d. they typically have not looked long enough to find a job
e. they voluntarily have left the labor force
B
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The purchase and sale of financial instruments is not included in calculations of investment spending because ________
A) not all of these transactions are reported to the federal government B) both foreign and domestic economic agents can engage in the described transactions, but only U.S. economic agents can engage in investment C) they do not necessarily lead to a change in the amount of output produced in the United States D) they are already including in consumption spending
Decreasing returns to scale may occur because increasing the amount of inputs used
A) increases specialization. B) always increases the amount of output produced. C) may cause coordination difficulties. D) increases efficiency.
Physicians salaries increased substantially over the decade 1995-2005 from an average of $215,000 to $315,000 . What is the best explanation for this?
a. Physicians were smarter in 2005 than in 1995. b. The supply of physicians has increased. c. The supply of physicians has decreased. d. The demand for physicians has increased. e. The demand for physicians has decreased.
The economy's self-correcting mechanism to eliminate a recessionary gap relies on
a. falling interest rates that shift the aggregate demand curve outward. b. falling wage rates that shift the aggregate supply curve outward. c. rising wage rates that shift the aggregate supply curve inward. d. increases in the price level that shift the aggregate supply curve inward.