Compared to the unemployed during the Great Depression, persons unemployed in today’s economy are
A. worse off due to higher price levels.
B. worse off due to higher rates of unemployment in the 1990s.
C. better off due to unemployment insurance.
D. better off due to lower price levels.
Answer: C
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Which of the following is the ultimate goal of monetary policy?
a. Complete removal of income inequality b. Economic growth with price stability c. Free trade d. Balanced budget e. Economic welfare
A widely held theory of bureaucratic behavior is that:
a. government bureaus seek to maximize their budgets. b. government bureaus operate at a profit. c. bureaus sell public goods and services in a market. d. bureaus are more concerned with satisfying consumer demand than are firms.
Which of the following statements represents a correct and sequentially accurate economic explanation?
A) Business taxes rise, investment falls, total expenditures on goods and services falls, AD rises, and the AD curve shifts rightward. B) The dollar depreciates, net exports rise, total expenditures on goods and services rises, AD rises, and the AD curve shifts rightward. C) The interest rate falls, consumption rises, total expenditures on goods and services rises, AD rises, and the AD curve shifts rightward. D) b and c E) a, b, and c
You read a story in the newspaper about the "economies of mass production." This means that
A. fixed cost is less at larger levels of production. B. total cost is less at larger levels of production. C. marginal cost is less at larger levels of production. D. long-run average cost is less at larger levels of production.