Mary says she plans to return to college next semester assuming her car keeps running, tuition fees don't go up, and she will still have a student loan. An economist would say that Mary plans to return to college next semester
A) caveat emptor.
B) ceteris paribus.
C) laissez faire.
D) post hoc ergo propter hoc
Answer: B
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Cyclical unemployment includes people who become unemployed from
A) normal labor market turnover. B) changes in the seasons. C) changes in international competition. D) technological changes. E) changes in the business cycle.
In the long run, firms in markets that are ________ earn zero economic profits
A) perfectly competitive B) monopolistically competitive C) monopolies D) Both A and B
The monetary policy framework is:
A. the law that created the Federal Reserve System. B. the idea that central banks should be interconnected across countries. C. a growing belief that there should be one central bank headquartered at the World Bank. D. a way to prioritize and implement the central bank's objectives when they are in conflict.
Which of the following macroeconomic variables does not vary much over the seasons?
A. The unemployment rate B. Average labor productivity C. The nominal money stock D. The real wage