On the graph above, which pair of points best represents the impacts in the U. S. of the financial crisis and policy response from 2007 through 2008?
A) H to I
B) K to G
C) I to H
D) K to F
E) G to J
E
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The unemployment rate will decrease whenever there is a(n):
a. increase in the number of persons classified as unemployed. b. decrease in the number of unemployed relative to the size of the labor force. c. decrease in the size of the population and there is no change in the number of persons classified as employed. d. reduction in the size of the labor force. e. decrease in the number of unemployed and the population does not change.
Compared to the price of long-distance telephone calls, college tuition in the United States has
a. fallen. b. risen. c. stayed the same. d. risen at the same rate as the CPI.
Larry was accepted at three different graduate schools, and must choose one. Elite U costs $50,000 per year and did not offer Larry any financial aid. Larry values attending Elite U at $60,000 per year. State College costs $30,000 per year, and offered Larry an annual $10,000 scholarship. Larry values attending State College at $40,000 per year. NoName U costs $20,000 per year, and offered Larry a full $20,000 annual scholarship. Larry values attending NoName at $15,000 per year. Larry's opportunity cost of attending State College is:
A. $30,000 B. $35,000 C. $20,000 D. $15,000
Assume the United States and Canada have the same amount of resources. In a given time period, the United States can produce 3 tons of steel or 300 tons of wheat. Canada can produce 4 tons of steel or 400 tons of wheat. This means that
A. The United States has a comparative advantage in steel. B. Canada has an absolute advantage in both steel and wheat. C. Canada has a comparative advantage in steel. D. The United States has an absolute advantage in steel.