Unemployment generally rises during ________ and falls during ________.
A. peaks; troughs
B. recession; expansion
C. inflation; deflation
D. booms; busts
Answer: B
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The figure above shows Sam's budget line. Which of the following combinations of gasoline and coffee are not available to Sam?
A) 40 gallons of gasoline and 0 pounds of coffee B) 32 gallons of gasoline and 4 pounds of coffee C) 8 gallons of gasoline and 8 pounds of coffee D) 16 gallons of gasoline and 16 pounds of coffee
A model in which individual producers act as price setters, because there are only a few sellers and the product they sell is not standardized, is called
A) imperfect competition. B) perfect competition. C) monopoly. D) monopsony.
The transactions motive links money demand and
A) interest rates. B) money supply. C) the liquidity trap. D) income.
Which of the following would cause the demand for plumbers to decrease?
a. an increase in the productivity of plumbers b. a decline in the construction of housing c. a law that mandated higher wages for plumbers d. an increase in the number of plumbers who belong to a union