Unemployment caused by the fluctuation of the business cycle is called ________ unemployment
A) structural
B) recession-related
C) frictional
D) cyclical
D
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If the government raises income taxes, then the labor
A) supply curve shifts rightward. B) demand curve shifts leftward. C) demand curve shifts rightward. D) supply curve shifts leftward. E) Both answers B and D are correct.
A market transaction causes an externality if someone
a. directly involved in the transaction receives uncompensated benefits or costs from it. b. not directly involved in the transaction receives uncompensated benefits or costs from it. c. directly involved in the transaction seeks legal assistance to ensure that the transaction is carried out. d. not directly involved in the transaction interferes in it by imposing regulations or product standards.
Sarah gets a salary increase. Before her raise, she purchased 5 pounds of fish and 1 pound of beef stew a month. After her raise, she consumes 2 pounds of fish and 3 pounds of beef stew a month. If everything else is held constant, we know that
A) fish is an inferior good and beef stew is a normal good for Sarah. B) fish is a normal good and beef stew is an inferior good for Sarah. C) both fish and beef stew are normal goods for Sarah. D) both fish and beef stew are inferior goods for Sarah.
One possible reason as to why consumers respond to sales is that by displaying a "high" regular price and a "low" sale price, sales provide consumers with a reference point to interpret the prices being offered
Indicate whether the statement is true or false