Labor unions create ________ unemployment at the higher end of the wage ladder
A) frictional
B) cyclical
C) structural
D) under-reported
C
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Refer to Figure 12-9. Identify the firm's short-run supply curve
A) the marginal cost curve B) the marginal cost curve from a and above C) the marginal cost curve from b and above D) the marginal cost curve from d and above
If Slovenia is a small country in world trade terms, then if it imposes a large series of tariffs on many of its imports, this would
A) have no effect on its terms of trade. B) improve its terms of trade. C) deteriorate its terms of trade. D) decrease its marginal propensity to consume. E) increase its exports.
The initial development of paper money began when people used ____ as payment for goods and services
a. credit cards b. commodity money c. goldsmith receipts d. gold bullion e. gold coins
Which of the following statements is true?
a. Money must be divisible and portable. b. Money must be relatively "scarce" if it is to have value. c. M1 is the narrowest definition of money. d. All of the answers are correct.