Caitlin is working part-time at the Mr. G store, but wants to work full-time. She is
A) frictionally unemployed.
B) structurally unemployed.
C) cyclically unemployed.
D) not in the labour force.
E) none of the above.
E) none of the above.
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Under laissez-faire, the allocation of scarce resources among the different industries
A. is possible only with government tax and subsidy policies. B. is accomplished by the price system. C. requires a considerable amount of central planning. D. is the result of consumer planning.
Suppose Congress increased spending by $100 billion and raised taxes by $100 billion to keep the budget balanced. What will happen to real equilibrium GDP?
A) There will be no change in real equilibrium GDP. B) Real equilibrium GDP will fall. C) Real equilibrium GDP will rise. D) Real equilibrium GDP will initially rise, but then fall below its previous equilibrium value.
Early structural adjustment programs were least likely to include
a. social safety nets b. currency devaluations c. restrictions on money supply growth d. import liberalization e. most programs included all of these
In the theory of utility, it is assumed that marginal utility:
a. increases as the consumption of a product increases. b. is always zero irrespective of any increase or decrease in consumption. c. remains constant when consumption of a product increases. d. diminishes as the consumption of a product increases. e. remains constant when the consumption of a product decreases.