Which of the following is true?
A. Employment and unemployment are both coincident with the business cycle.
B. Employment is procyclical and unemployment is coincident with the business cycle.
C. Employment is procyclical and unemployment is countercyclical.
D. Employment and unemployment are both procyclical.
Answer: C
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Utility is:
a. easily measured, because all people derive the same utility from consumption. b. easily measured, because it is an objective concept. c. easily measured, because it is a subjective concept. d. hard to measure, because it is a subjective concept. e. hard to measure, because it is an objective concept.
In one month, Moira can knit 2 sweaters or 4 scarves. In one month, Tori can knit 1 sweater or 3 scarves. Moira's opportunity cost of knitting scarves is lower than Tori's opportunity cost of knitting scarves
a. True b. False Indicate whether the statement is true or false
The task of economic regulation is to
a. protect monopoly profits. b. approximate the results of the competitive market. c. replace competition with government ownership. d. increase competition within the market.
The likelihood of successful collective action:
A. generally does not depend on the size of the group. B. can be lower for small groups. C. can be higher for large groups. D. can be lower for large groups.