When there is a recessionary gap:
a. Unemployment exceeds the natural rate of unemployment.
b. Unemployment equals the natural rate of unemployment
c. Unemployment is less than the natural rate of unemployment.
d. Any of the above is possible.
a
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The Pacific Pulp Company plans to clearcut 100 acres of land to produce paper pulp which would earn the firm $50,000 in profits. One hundred nearby homeowners realize that this would reduce the value of each of their properties by $1,000. These 100 homeowners
a. face a logistical problem of getting together to offer a bribe to Pacific Pulp. b. would not benefit from offering any side payment to Pacific Pulp not to clearcut. c. have no legal option except to suffer the damages to their property values. d. can costlessly organize to offer Pacific Pulp a side payment not to clearcut.
The above figures show the market for hamburger meat. Which figure(s) shows the effect of an increase in the price of a hamburger bun, a complement for hamburger meat?
A) Figure B B) Figure C C) Figure D D) Figures A and B
The Nasdaq Composite Index is:
A. made up of over 50,000 firms traded on the Over-the-Counter market. B. the most broadly based index in use. C. a price-weighted index. D. made up of mainly newer firms, and heavily influenced by technology and internet companies.
In a command economy, ________ establish(es) what will be produced and when, set(s) production goals, and make(s) rules for distribution.
A. only privately owned firms B. a centralized authority C. individuals and households D. individuals, households and privately owned firms