Economic indicators, like unemployment claims and the average workweek, which change before real GDP changes, are called _____________ economicindicators.
A. leading.
B. lagging.
C. coincident.
D. structural.
Answer: A
You might also like to view...
In the basic Keynesian model, a tax cut:
A. reduces short-run equilibrium output. B. reduces potential output. C. increases short-run equilibrium output. D. increases potential output.
The United States generally has a comparative advantage in the development of technology because it has:
A. patent laws, which no other country has. B. large amounts of natural resources. C. a disproportionate share of the world's best research universities. D. the greatest need for new technology.
Suppose a sushi restaurant is making significant economic profit in the short run. In the long run
A. high barriers to entry keep people from opening sushi restaurants. B. the government will require the sushi restaurant to sell part of its interests in the city. C. more people will open steak restaurants, increasing the economic profit for the sushi restaurant. D. more people will open sushi restaurants, reducing the economic profit for each restaurant.
Under normal monopoly, price exceeds marginal cost, which implies that the:
A. total benefit to society of producing output is less than the total cost. B. total cost to society of producing output is less than the total benefit. C. marginal cost to society of increasing output is greater than the marginal benefit. D. marginal cost to society of increasing output is lower than the marginal benefit.