Another name for nondiversifiable risk is:
A. inflation risk.
B. systemic risk.
C. cyclical risk.
D. idiosyncratic risk.
B. systemic risk.
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Refer to the figure above. What is the initial equilibrium wage rate and employment level?
A) $60 and 20 units of labor B) $40 and 40 units of labor C) $50 and 40 units of labor D) $20 and 40 units of labor
Which of the following statements is true?
A) The supply of oil is perfectly inelastic; therefore, as the demand for oil increases over time the price of oil increases significantly. B) The supply of oil is very inelastic over short time periods but becomes more elastic over time. A given shift in supply results in a smaller increase in the price of oil when the supply is more elastic. C) Over short periods of time increases in the demand for oil are greater than increases in the supply of oil. Over the long run increases in the demand and the supply of oil are about equal. As a result, the price of oil increases greatly in the short run but is stable in the long run. D) The supply of oil is very elastic over short time periods but becomes perfectly inelastic over time. A given shift in supply results in a greater increase in the price of oil when the supply of oil is perfectly inelastic.
In the equation, Unemployment rate = Natural rate of unemployment - a × (?ctual inflation - Expected inflation), the variable a is a parameter that measures how much
a. actual inflation responds to expected inflation. b. expected inflation responds to actual inflation. c. the natural rate of unemployment responds to unexpected inflation. d. actual unemployment responds to unexpected inflation.
Figure 17-13
In , if the world price of a baseball is $3 and a tariff of $1 per baseball is imposed in the United States, which area represents the amount of tariff revenue the United States government collects?
a.
a
b.
b
c.
c
d.
f
e.
e