The smaller the slope of the aggregate planned expenditure (AE) curve, the
A) larger are imports.
B) smaller the multiplier.
C) larger the multiplier.
D) larger are exports.
E) larger is the marginal tax rate.
B
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If the unemployment rate is less than the natural unemployment rate, then
A) there is no frictional unemployment. B) cyclical unemployment is greater than zero. C) real GDP is less than potential GDP. D) real GDP is greater than potential GDP. E) frictional unemployment is negative.
A limit on the dollar worth of oranges imported into the United States is an example of a quantity quota
a. True b. False Indicate whether the statement is true or false
Where marginal cost is less than average total cost,
a. opportunity cost must have been excluded from the calculation of marginal cost. b. marginal cost must be falling. c. marginal cost must be rising. d. marginal cost may be rising, falling, or constant.
Cyclical unemployment refers to
a. the relationship between the probability of unemployment and a worker's changing level of experience. b. how often a worker is likely to be employed during her lifetime. c. year-to-year fluctuations of unemployment around its natural rate. d. long-term trends in unemployment.