John Smith leaves his job in New York to go to California in hopes of finding a better one. If John Smith is unemployed while searching for a job in California, economists would consider him to be
A) frictionally unemployed.
B) structurally unemployed.
C) cyclically unemployed.
D) naturally unemployed.
A
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A situation in which the unregulated competitive market outcome is inefficient because prices fail to provide proper signals to buyers and sellers is known as:
A) an imperfectly competitive market. B) a market failure. C) a deadweight loss. D) a disequilibrium.
Alan Greenspan's overall approach to monetary policy:
a. has been partly credited for the expansion of the 1990s. b. relied heavily on the monetization of debt during economic downturns. c. typically responded to economic downturns by lowering the federal funds rate. d. Both a and b are correct. e. both a and c are correct.
Consider Figure 12.5. Not confessing is a dominant strategy for:
A. player A but not player B. B. player B but not player A. C. both players. D. neither player.
If you real disposable income goes up by $1000 per week, and your real consumption spending goes up by $800 per week, you have an MPS of
A) 0.2. B) 0.8. C) 1.2. D) 1.0.