All of the following are causes of structural unemployment except _____.
(A) Inventing new ways of doing things.
(B) Falling of the stock market.
(C) Relocating jobs to other countries.
(D) Discovering new resources.
Ans: (B) Falling of the stock market.
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According to the figure, The Rock Shop:
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.
A. should enter the market, regardless of what MiiTunes chooses to do.
B. should not enter the market, regardless of what MiiTunes chooses to do.
C. does not have a dominant strategy.
D. has more than one dominant strategy.
Prolonged war on a country's home soil is likely to expand a country's labor supply
Indicate whether the statement is true or false
If producers incorrectly set the price of their product too high:
A. a surplus will result. B. equilibrium will result. C. a shortage will result. D. the industry will die out soon.
The real wealth effect provides a partial explanation for why the aggregate demand curve slopes downward. Which of the following statements best explains the real wealth effect?
A. At a lower price level domestically produced items are relatively less expensive than foreign goods and therefore are in greater demand. B. At a lower price level the real interest rate tends to be lower, and thus the quantity of investment goods demanded is larger. C. At a lower price level consumers will buy less because of a reduction in the real money supply. D. At a lower price level the purchasing power of accumulated savings is larger, and thus consumers will purchase more goods.