The big jump in the unemployment rate that occurred in 2009 can best be explained as an increase in
A. structural unemployment.
B. frictional unemployment.
C. cyclical unemployment.
D. natural unemployment.
Answer: C
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What relationship exists between marginal revenue and the elasticity of demand? Use this relationship to explain how a monopoly can increase its profit if demand is inelastic.
What will be an ideal response?
Self-control issues exist for several areas for most people. Which of the following is not on the usual list?
a. Using credit or debit cards b. Mail order clubs or buying online c. Malls, shopping centers or other types of in-person shopping d. Antiques
You and two partners start a company. However, your partners play no role in running the company. You devote all our time and talent to run your own business rather than working for someone else. You incur an(a):
a. explicit cost. b. marginal cost. c. sunk cost. d. opportunity cost.
In the circular flow, an increase in the money supply tends to result when
a. planned I equals planned S. b. planned I is less than planned S. c. planned I is greater than planned S. d. there is a surplus government budget.