If the unemployment rate is 5 percent (full employment), the United States economy is operating
A. inside the production curve.
B. on the production curve.
C. outside the production curve.
B. on the production curve.
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In 2012, all of fast-food chains expanded their hours of operation, with nearly 40% of all McDonald's restaurants being open 24 hours per day. This strategy was aimed at increasing sales because:
A) it was estimated that nearly one-fifth of all employed Americans worked primarily in the evening contributing to the demand for fast-food in late hours. B) it was estimated that consumers who shop at night tend to be more price sensitive. C) it was believed that longer hours of operation would lead to greater brand loyalty. D) none of the above.
With other things constant, the supply schedule for a particular good indicates the quantities
a. actually sold with different productive capacities b. supplied with different productive capacities c. actually sold at various prices of the good d. supplied at various prices of the good e. supplied at various prices of the good and with various productive capacities
A period in which the price level is rising is experiencing
a. inflation. b. reflation. c. deflation. d. deconstruction.
If imports of goods are greater than exports of goods, the nation is experiencing a:
A. negative balance on current account. B. goods trade deficit. C. capital account imbalance. D. weakening of its currency.