Countries with higher than average unemployment rates have ________ compared to the United States
A) less regulated labor markets
B) lower levels of technology
C) higher levels of technology
D) more generous unemployment benefits and more regulated labor markets
E) a higher labor force participation rate
D
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What would be the best description of what we assume about money prices in the short run?
A) Money prices of goods and services vary. B) Money prices of goods and services not related to each other. C) Money prices of goods are fixed. D) Money prices of services are fixed. E) Money prices of goods and services are only temporarily fixed.
In the aggregate expenditures model, equilibrium occurs if:
a. consumption equals investment b. inventory equals investment. c. aggregate expenditures equal consumption. d. aggregate expenditures equal disposable income.
Consumer surplus measures the value between the price consumers are willing to pay and the:
A. producer surplus price. B. deadweight gain price. C. actual price paid. D. preference price.
Consider Figure 12.3. The outcome of the game will be that:
A. both choose a high price. B. both choose a low price. C. Becky chooses a high price and David chooses a low price. D. David chooses a high price and Becky chooses a low price.