According to the traditional classical school of thought, aggregate supply is vertical both in the short run and in the long run
a. True
b. False
Indicate whether the statement is true or false
True
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From World War II through 2010, the United States experienced ________ recessions
A) 2 B) 5 C) 11 D) 15
A student who just graduated from college during an economic expansion but has yet to find a job would most likely be
A) structurally unemployed. B) frictionally unemployed. C) cyclically unemployed. D) seasonally unemployed.
A country with a high GDP per capita can be classified as an industrially advanced country (IAC) regardless of its industrial development
a. True b. False Indicate whether the statement is true or false
Suppose your friends take you out for dinner on your birthday and you have a much better time than you would have had doing anything else. There is still an opportunity cost, even though they will not let you pay for anything
a. True b. False