We may note that unemployment:
A. only occurs during times of recession.
B. is highest during times of economic booms.
C. tends to increase during times of economic recovery.
D. exists at any time during the business cycle.
Answer: D
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A trend shows
A) the degree of correlation between two variables. B) the general tendency for a variable to rise or fall. C) the scale used to measure to variables. D) the increases in one variable.
Suppose the production of a good results in positive externalities. If output occurs at the intersection of the marginal social benefits curve and the supply curve, then
A. output will be at a higher level than if all benefits were not taken into account. B. output will be at a lower level than the socially optimal level. C. the marginal private benefit curve will lie above and to the right of the marginal social benefit curve. D. there will be underproduction. E. all of the above
Voters' Ordered PreferencesAbbyBobCarloPublic parksPublic zooPublic transportationPublic zooPublic transportationPublic parksPublic transportationPublic parksPublic zooIf a pair-wise majority vote was held, the voters' preferences are shown in the table, and Abby is setting the agenda for votes, which pair will she put up for vote first?
A. Public transportation and public zoo B. Public parks and transportation C. Public zoo and public parks D. It will not matter, as it will not affect the outcome of the voting.
Who gains in a voluntary trade?
What will be an ideal response?