Workers laid off as a result of a recession suffer
A) structural unemployment.
B) seasonal unemployment.
C) natural unemployment.
D) cyclical unemployment.
E) frictional unemployment.
D
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The level of economic activity in a given year will cause the budget deficit to vary.
A. True B. False C. Uncertain
Refer to the above table. Assuming constant opportunity costs, which of the of the following statements is correct if the rate of exchange is 1 movie for 1 cuckoo clock
A) U.S. residents would be willing to export cuckoo clocks, but Swiss residents would not gain from exporting movies at this rate of exchange. B) Swiss residents would be willing to export movies, but U.S. residents would not gain from exporting cuckoo clocks at this rate of exchange. C) U.S. residents will gain from exporting movies and Swiss residents will gain from exporting cuckoo clocks at a rate of exchange. D) U.S. residents will gain from exporting cuckoo clocks and Swiss residents will gain from exporting movies at a rate of exchange.
Household production is more likely to occur when
a. it requires many specialized resources b. technology makes it more costly than market production c. tax avoidance is undesirable d. more control over the final product is desirable e. all of the above
If aggregate expenditures are less than real GDP, then:
a. both inventories and real GDP will decline. b. inventories will decline but real GDP will increase. c. inventories will increase and real GDP will decline. d. both inventories and real GDP will increase. e. inventories will increase but real GDP will remain unchanged.