Which of the following is an example of a variable cost to a typical firm?
a. labor
b. mortgage payment on facility
c. salary of the office assistant
d. monthly mortgage premiums
a
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Refer to Table 8-22. Consider the data above for a simple economy: Using 2011 as the base year, calculate nominal GDP, real GDP, and the GDP deflator for 2016. Show your work.
To be effective, countercyclical fiscal policy must be temporary
a. True b. False
The legal system imposes large financial penalties on firms caught violating Environmental Protection Agency guidelines. The EPA's standards program is thus an example of a
a. market-based approach to reducing pollution. b. system of emissions taxes. c. system of emissions permits. d. direct-control system enforced through the courts.
Sandy has graduated from college and is devoting her time to searching for a job. She has seen plenty of openings but has not yet been offered one that best suits her tastes and skills. Sandy is
a. structurally unemployed. Structural unemployment exists even in the long run. b. structurally unemployed. There is no structural unemployment in the long run. c. frictionally unemployed. Frictional unemployment exists even in the long run. d. frictionally unemployed. There is no frictional unemployment in the long run.