One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them
a. True
b. False
Indicate whether the statement is true or false
True
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Why would a firm choose to remain in an industry in which it makes an economic profit of zero?
What will be an ideal response?
Which of the following is not an argument used in favor of protectionism?
a. To protect an "infant" industry. b. To protect domestic jobs. c. To preserve national security. d. To protect against "unfair" competition because of cheap foreign labor. e. To reduce prices paid by domestic consumers.
M2 includes:
a. Currency in circulation + Reserves of financial intermediaries (e.g., banks) + Checking Accounts + Near Money. b. Currency in circulation + Checking Accounts c. Currency in circulation + Cash inside financial intermediaries + Deposits at the central bank + Checking Accounts + Near Money. d. Currency in circulation + Checking Accounts + Near Money. e. Monetary base plus currency in circulation.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.