If a worker is temporarily laid off because the economy is in a recession
A) frictional unemployment increases.
B) structural unemployment increases.
C) the size of the labor force rises.
D) cyclical unemployment increases.
D
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The fact that output gaps will not last indefinitely, but will be closed by rising or falling inflation is the economy's:
A. income-expenditure multiplier. B. self-correcting property. C. short-run equilibrium property. D. long-run equilibrium property.
When Frank's income rises from $29,000 to $34,000 per year, he increases his purchases of tomatoes from 20 pounds to 28 pounds per year. What is Frank's income elasticity of demand for tomatoes? (Use the midpoint formula
) According to Frank, are tomatoes an inferior or normal good?
How do the fluctuations in the exchange rate influence the domestic price level?
Responsibility for enforcing the antitrust laws rests:
A. with the Interstate Commerce Commission. B. with both the Department of Justice and the Federal Trade Commission. C. solely with the Federal Trade Commission. D. solely with the Department of Justice.