Unemployment that occurs when there is deficient demand for the goods and services of an economy is called:
A. frictional unemployment.
B. structural unemployment.
C. cyclical unemployment.
D. natural unemployment.
Answer: C
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Indifference curves have a bowed-out shape because of diminishing marginal utilities
a. True b. False Indicate whether the statement is true or false
A recent example of the administrative lag came in the form of it taking
A. several months in 2003 for Congress to agree on a specific tax cut package, even after they had agreed on having one. B. very little time for the effects of the 2003 rebate checks to have an effect on the economy. C. only a month or two from the passage of the 2003 tax cut to the issuance to rebate checks. D. until Summer 2003 to recognize that the recession of 2001 ended in December of 2001.
The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.
The slope of the PPC between points Y and Z is determined by ________ opportunity cost.
A. Janna and Drew's B. Drew's C. Janna's D. Kari's
Stricter laws and regulations to protect intellectual property rights
A) will help to create a more successful market system. B) will only benefit those companies whose intellectual property rights have in the past been ignored. C) will tend to have little impact on an economy since intellectual property is not tangible. D) will create a stronger and more successful black market for intellectual property.