High unemployment rates persisted for several years after the official end of the 2007-2009 recession
The long duration of unemployment for many workers can be viewed as being consistent with an increase in ________ unemployment, and therefore an increase in the natural rate of unemployment. A) frictional
B) cyclical
C) structural
D) seasonal
C
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The assertion that if resources are allocated efficiently, they also are allocated fairly is made by
A) all utilitarians. B) John Rawls, who proposed making the poorest as well off as possible. C) Robert Nozick, who believes that equality of opportunity is fair. D) all economists who understand the big tradeoff.
Assume, for England, that the domestic price of wine without international trade is lower than the world price of wine. This suggests that, in the production of wine,
a. England has a comparative advantage over other countries and England will export wine. b. England has a comparative advantage over other countries and England will import wine. c. other countries have a comparative advantage over England and England will export wine. d. other countries have a comparative advantage over England and England will import wine.
If a firm sells a total of 100 shares of stock, then
a. each share represents 1 percent of the firm's indebtedness. b. each share represents ownership of 1 percent of the firm. c. the firm is engaging in term finance. d. All of the above are correct.
Which of the following is the most aggregated value?
A. Total output of a city B. Total output of a country C. Total output of a firm D. Total output of an industry