Economists who are skeptical of hysteresis in Europe during the 1980s and 1990s cite all of the following as reasons for persistently high unemployment in Europe EXCEPT
A) generous unemployment benefits.
B) restrictions on firms' ability to hire and fire workers.
C) the existence of an ongoing recession.
D) high tax rates.
C
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On an annual basis, Americans spend about as much on health care as they do on
A) food. B) clothing. C) transportation. D) housing.
Making "how much" decisions involves
A) calculating the total costs of the activity and determining if you can afford to incur that expenditure. B) calculating the total benefits of the activity and determining if you are satisfied with that amount. C) determining the additional benefits and the additional costs of that activity. D) calculating the average benefit and the average cost of an activity to determine if it is worthwhile undertaking that activity.
Real consumption spending is inversely related to
a. real disposable income b. the amount of common stock owned c. the amount of real estate owned d. expectations of future income e. the interest rate
____________ regulation is based on setting the price of, say, water or electricity, at the average cost of production while allowing a normal profit for the firm.
a. Price cap b. Cost-plus c. Fixed price d. Bundling