In the spring, I enjoy the fragrance coming from my neighbors' flowers. The fragrance is is an example of
A) a negative externality.
B) a private good.
C) the need for antitrust legislation.
D) a free rider problem.
D
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Suppose that the number of jobs for engineers expands by 10 percent per year, the number of new engineers by 5 percent per year while the number of automobile mechanics grows by 8 percent and the number of new automobile mechanics jobs grows by 3
percent. We conclude that A) frictional unemployment will increase. B) frictional unemployment will decrease. C) structural unemployment will increase. D) structural unemployment will increase 4 times.
When the U.S. experiences economic growth, the poverty rate will:
A. fall, because growth has benefited everyone. B. increase, because growth typically only benefits the richest 1 percent. C. fall, because growth typically helps the poor more than the wealthy. D. increase, because growth has benefited the wealthy more than the poor.
The major cause of the recession in 2001 was a decline in _____________ spending.
Fill in the blank(s) with the appropriate word(s).
The capital account includes
A. Foreign purchases of U.S. assets. B. Unilateral transfers. C. Trade in goods. D. Trade in services.