Refer to the above figure. If the government imposes a price floor of $60
A) the quantity of goods that will be traded is 100.
B) the quantity of goods that will be traded is 200.
C) the quantity of goods that will be traded is 150.
D) the quantity of goods that will be traded is 0.
A
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In the long run, under conditions of perfect competition, market forces come into play to
a. enhance profits. b. increase demand. c. eliminate profits. d. separate MR and AR.
The United States experienced a deep recession between 2007 and 2009. Which type of unemployment would most likely increase during that period of recession?
A) cyclical unemployment B) frictional unemployment C) seasonal unemployment D) structural unemployment
Which of the following is true of economic fluctuations? a. They can be experienced by the world economy as well as by a single nation
b. They tend to be equal in length and intensity. c. They reflect an economy's socio-political condition. d. They tend to become more severe when the government attempts to stabilize an economy. e. They have been completely offset by appropriate government policies during the last 40 years.
Which of the following groups would have the lowest unemployment rates?
A. High-school dropouts B. Married men C. Nonwhite teenagers D. Nonwhite women