Recovery in the United States after the Great Recession can be characterized as:
a. Rapid, as U.S. unemployment fell and employment rose.
b. Slow to develop, as unemployment fell and employment rose at very sluggish paces.
c. Non-existent. After three years, the U.S. economy was in the same position as 2008.
d. Mixed, as real GDP grew rapidly, but the unemployment rate and employment rate lagged behind.
.B
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Refer to Scenario 12.2. In this game, if both players end up playing their tough strategies, then
A) Eliza will donate a kidney and Jerome will not donate. B) both Eliza and Jerome will donate a kidney. C) Jerome will donate a kidney and Eliza will not donate. D) neither Eliza nor Jerome will donate a kidney.
Which of the following is a feature of the scientific method?
A) The scientific method is not based on data, statistics, or measurements. B) The scientific method allows improvisation and correction of inconsistent models. C) The scientific method enables the creation of perfectly accurate models of the real world. D) The scientific method is used only for studying topics related to economics.
As a result of a per-unit tax on output in a market: a. the quantity traded increases
b. the quantity traded does not change. c. the quantity traded decreases. d. a surplus is created at the new equilibrium price.
As more Big Macs are consumed each day, the marginal utility that a person gets from each additional Big Mac:
A. rises at a steady rate. B. decreases. C. remains constant. D. accelerates.