Recessionary gaps usually lead to
a. structural unemployment.
b. cyclical unemployment.
c. seasonal unemployment.
d. frictional unemployment.
b
You might also like to view...
Refer to Table 2-9. Thailand has a comparative advantage in the production of
A) wristwatches. B) rice. C) both products. D) neither product.
The Herfindahl-Hirschman Index is one factor used to determine whether a merger between two firms should be allowed. Which of the following statements regarding the value of the Index for a given industry is true?
A) If a merger resulted in an Index of between 1,000 and 1,800, the industry would be considered competitive and the merger would not be challenged. B) If a merger would result in an Index value of 1,000 or more, the industry would be considered a monopoly and the merger would be challenged. C) If a merger would result in an Index value less than 1,000, the merger would not be challenged. D) If a merger would increase the Index by 100, the industry would be considered a monopoly and the merger would be challenged.
Fiona uses all of her income to purchase popcorn and butter. At any two points A and B on Fiona's budget constraint,
a. Fiona is equally happy. b. Fiona is spending more money on popcorn than she is spending on butter. c. Fiona's income is different. d. the price of popcorn relative to the price of butter is the same.
If a firm earns short-run losses, it exits in the long run.
Answer the following statement true (T) or false (F)