The typical cyclically unemployed person includes
A) Andrew, a teenager who has just entered the labor market looking for his first part-time job.
B) Barbara, who is re-entering the labor market after a divorce.
C) Charles, who was laid off from his factory job but expects to be recalled in a few weeks.
D) Diana, who has quit her job and is now looking for another.
C
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In U.S. presidential elections, the winner of the popular vote
A) was always the election winner. B) lost the election only one time in history. C) lost the election about 10 percent of the time. D) lost the election more times than he won the election.
Refer to the figure above. What is the consumer surplus when Lithasia engages in trade and the government imposes a $1 tariff on chairs?
A) $100 B) $120 C) $180 D) $200
Demand curves with constant slopes must have different own-price elasticities as one moves along the demand curve.
Answer the following statement true (T) or false (F)
Tom takes 20 minutes to cook an egg and 5 minutes to make a sandwich. Jerry takes 15 minutes to cook an egg and 3 minutes to make a sandwich. Both individuals will be better off if
A) Tom trades sandwiches in exchange for eggs. B) Jerry trades sandwiches in exchange for eggs. C) they trade, no matter who trades sandwiches and who eggs. D) they don't trade.