Which of the following statements is true?
A) There always exists some amount of unemployment in an economy.
B) The unemployment in an economy normally increases at times of expansion and decreases at times of contraction.
C) In almost every economy, each job opening is instantly filled by a qualified worker.
D) The unemployment rate in an economy is constant over the long run.
A
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When the market value of the dollar falls relative to other currencies around the world, we say that
A) the supply of dollars has decreased. B) the dollar has depreciated. C) the demand for dollars has decreased. D) the dollar has appreciated.
Producer surplus for the whole market can be thought of as
A) total profit. B) variable operating profit plus factor rents. C) total profit minus factor rents earned by lower cost firms. D) total profit plus factor rents earned by lower cost firms.
The size of the debt will begin to shrink if the federal government balances its budget.
Answer the following statement true (T) or false (F)
Which statement is true?
A. The number of people living on family farms has been increasing in recent years. B. Most farm subsidy payments go to large corporate farms. C. The United States' huge agricultural surpluses have completely eliminated starvation in this country. D. None of the statements are true.