Which of the following is an example of cyclical unemployment?
a. A recent college graduate still looking for her first job
b. A car salesman who loses his job because of a recession
c. A ski instructor who is out of work during the summer
d. An economics journalist who just quit her writing job in order to begin a new career as a college professor next month
e. A worker displaced from his factory job because of greater mechanization in the workplace
b
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Easy monetary policy will ________ net exports as a result of a ________ currency.
A. increase; stronger B. decrease; stronger C. decrease; weaker D. increase; weaker
Consider the following information regarding a person's decision to go to college: college tuition is $20,000 per year, room and board is $10,000 per year, and books and materials are $2,000 per year. Suppose that instead of going to college this person could have earned $18,000 working in a store. An economist would calculate the cost of going to college as
a. $20,000. b. $30,000. c. $32,000. d. $50,000. e. $18,000.
Figure 11-6
The industry described in Figure 11-6
A. is not a natural monopoly because no firm would produce in the long run unless the government intervened in the market. B. is not a natural monopoly because the average total cost curve is U shaped. C. is a natural monopoly because the economic profit is positive for a monopolist if the government doesn’t intervene. D. is a natural monopoly because price is less than average total cost at the output that would be produced by the industry under perfect competition.
Which one of the following would supply dollars to the foreign exchange market?
a. the spending of U.S. tourists in Europe b. the purchase of U.S. automobiles by Japanese consumers c. the sale of U.S. automobiles to European consumers d. the purchase of an American electronics factory by a Japanese investor