When the economy slows down and national income falls, the government will have ________ tax revenue to fund programs
A) about the same B) a rapid increase in C) more D) less
D
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Name two types of jobs most likely affected by "seasonal unemployment."
What will be an ideal response?
Assume that for the third quarter of 2012, actual real GDP was $176.1 billion and potential real GDP was $163.9 billion. According to Okun's law, the cyclical unemployment rate during the third quarter of 2012 was
A) -6.1%. B) -3.7%. C) 3.5%. D) 6.1%.
Identify which of the following motivated European expansion in America
(a) International trade and finance opportunities (b) Precious metals such as gold and silver (c) The hope of finding a northwest passage to the Orient (d) All of the above
A bilateral monopoly means
A) that a monopsonistic employer bargains with two unions. B) that a monopsonistic employer bargains with both an industrial and a craft union. C) that a monopsonistic employer bargains with a monopoly. D) that an industrial union bargains with a two-firm oligopoly.