The deviation of unemployment from its natural rate is called
a. the economic rate of unemployment.
b. cyclical unemployment.
c. frictional unemployment.
d. structural unemployment.
b
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If a 10% increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are
A. complements. B. substitutes. C. inferior. D. unrelated.
When reserve requirements are increased, the
a. excess reserves of commercial banks will decrease. b. excess reserves of commercial banks will increase. c. U.S. Treasury will have to borrow additional funds. d. money supply will rise.
Figure 10.1 shows a monopolist's demand curve. If the monopolist were to maximize its total revenue, it would produce ________ units of output and charge a price of ________.
A. 3; $5 B. 4; $4 C. 5; $3 D. 6; $2
Refer to the below information and table. If landowners were taxed at a rate of $150 per acre for their land, what would be the economic rent on this land after taxes, and how many acres would be rented?
Suppose that the quantity of a certain type of farmland available is 400,000 acres, and the demand for this land is given in the table below.
A. $50 and 400,000 acres
B. $400 and 50,000 acres
C. $150 and 400,000 acres
D. $250 and 50,000 acres