Cyclical unemployment stems from an insufficient level of demand in the economy.
Answer the following statement true (T) or false (F)
True
When spending on goods and services declines, layoffs will occur because companies cannot maintain the level of production and still earn profit.
You might also like to view...
The opportunity cost of taking a semester-long economics class is
A) the cost of tuition and fees only. B) equal to the highest value of an alternative use of the time and money spent on the class. C) the value of the time spent in the classroom. D) the knowledge and enjoyment you receive from attending the class. E) zero because there is no admission charged if you are enrolled in the course.
Along a straight-line, slanted demand curve,
a. the price elasticity is constant. b. the price elasticity varies along the line. c. the price elasticity is the same as slope. d. the price elasticity cannot be measured.
Which of the following observations is true?
A. Environmental damage can be reduced to zero. B. Pollution results from a price mechanism malfunction. C. Charging those who emit pollution is not a way of dealing with pollution problems. D. Public interest requires pollution be maintained at its free-market level.
Physicians who agree to accept Medicare's approved payment as full payment are participating providers. Non-participating providers are allowed to balance bill their patients. What does this mean?
a. The physician balances their usual fee equally between Medicare and the patient. b. The patient must pay the entire bill without the assistance of Part B insurance. c. The physician has a guarantee that the patient will pay the balance of the bill left after Medicare pays its approved fee. d. Non-participating physicians can bill the patients the difference between their usual fees and the amount Medicare actually pays (not to exceed 15 percent of the allowable fee)