In 2015, the unemployment rate among workers with a bachelor's degree or higher was
A. 8.0 percent.
B. 5.4 percent.
C. 2.1 percent.
D. 2.6 percent.
Answer: D
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Examples of comparative advantage often begin with two countries that each produce the same two goods
Each country is then shown to have a comparative advantage in producing the good it can produce at a lower opportunity cost, and specializes in the production of the good for which it has a comparative advantage. How do these examples prove that both nations are made better off as a result of trade than they would be without trade?
If the equilibrium price of natural gas is $4 per thousand cubic feet and a price ceiling is imposed at $3 per thousand cubic feet, the result will be:
a. a surplus of natural gas. b. a shortage of natural gas. c. an accumulation of inventories of unsold gas. d. None of these.
If the monetary authorities persistently expand the money supply at a rapid rate, the probable result will be: a. inflation
b. low nominal interest rates. c. rapid growth of real GDP. d. all of the above.
The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A