Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, an increase in unemployment may be represented by the movement from
A. B to A.
B. A to C.
C. C to D.
D. B to D.
Answer: B
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Total utility
A. diminishes as the quantity consumed of a good increases. B. increases as long as more goods are acquired. C. increases as long as marginal utility increases. D. increases as long as marginal utility is positive. E. diminishes as consumption of some good rises.
Financial innovations may be expected to cause a decline in ________
A) financial frictions B) the credit spread C) the real interest rate on investments D) all of the above E) none of the above
At the equilibrium price, there are
A. Shortages. B. Excess inventories. C. Surpluses. D. No shortages or surpluses.
Suppose a monopolist has costs such that when output is 1,000 units per hour, average cost is $5. If the monopolist is regulated by a policy of average-cost pricing, the monopolist will charge a price of:
A. $5. B. $5 only if the quantity demanded is 1,000 units per hour at a price of $5. C. $5 only if the quantity demanded is greater than 1,000 units at a price of $5. D. $5 only if the quantity demanded is less than 1,000 units per hour at a price of $5.