Which type of unemployment is most likely to fall as a result of government policies that stimulate aggregate demand?
a. frictional unemployment
b. structural unemployment
c. natural unemployment
d. cyclical unemployment
d. cyclical unemployment
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If country A exports good X to country B and country B exports good Y to country A, it is most likely that
A. A has an absolute advantage in the production of good X. B. B is producing less of good Y than in the no-trade case. C. B has a comparative advantage in the production of good Y. D. the opportunity cost of domestic production of good Y for country A is lowered with trade.
Suppose consumption is $5,000 when income is $8,000 and the MPC equals 0.9. When income increases to $10,000, consumption is
A. $2,700. B. $4,500. C. $6,800. D. $7,200.
You draw colored balls out of a bag. You draw a red ball 30% of the time and a blue ball 70% of the time. For each draw, the blue outcome and the red outcome are
A) mutually exclusive. B) exhaustive. C) Both A and B. D) None of the above.
Network externalities:
A. weaken forces that lead to monopoly in an industry. B. increase the likelihood that an industry will become a winner-take-all industry. C. promote the entry of new firms in a market. D. increase competition among existing firms in a market.