During and following the recession of 2008-2009, private investment was
a. strong, and this should increase the future productivity of workers.
b. strong, and this will tend to weaken the future productivity of workers.
c. weak, and this will tend to reduce the future productivity of workers.
d. weak, and this will tend to increase the future productivity of workers.
C
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Which of the following does not describe a characteristic of short-term economic fluctuations?
A. Expansions and recessions are felt in only a few sectors of the economy. B. The unemployment rate rises during recessions. C. Durable-goods industries are more sensitive to short-term fluctuations than service and non-durable industries. D. Expansions and recessions are irregular in length and severity.
Which of the following is true? a. Virtually all theories in economics are expressed using a ceteris paribus ("let everything else be equal" or "holding everything else constant") assumption. b. The fallacy of composition is that, even if something is true for an individual, it is not necessarily true for many individuals as a group. c. One must always be careful not to confuse correlation
with causation. d. All of the above are true.
The demand for automobiles rises when the economy experiences an expansion. If an automobile manufacturer hires additional workers during an expansion, this would be best described as an example of a reduction in
A. frictional unemployment. B. natural unemployment. C. structural unemployment. D. cyclical unemployment.
Refer to the below graph. An increase in the price of agricultural products from PB to PA will:
A. Increase farm incomes by 0PAAQA
B. Decrease farm incomes by 0PBEQA
C. Decrease farm incomes from 0PBBQB to 0PAAQA
D. Increase farm incomes from 0PBBQB to 0PAAQA