In April 2010, the U.S. economy added 290,000 jobs but the unemployment rate still increased from 9.7 percent to 9.9 percent. Which of the following best explains this situation?
a. The size of the labor force shrunk
b. The number of unemployed workers also increased, but by a smaller percentage.
c. The number of illegal immigrants increased substantially.
d. The number of discouraged workers increased substantially.
e. The number of unemployed workers also increased, but by an even greater percentage.
e
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If regulation imposes marginal cost pricing on a natural monopoly, then the monopoly will:
a. suffer persistent economic losses. b. earn a fair, but not excessive, return on its assets. c. produce too little output to achieve efficiency. d. experience diseconomies of scale.
One unintended consequence of the various attempts to restrict farm acreage was that
A) output generally decreased, price increased, and farmers earned higher incomes. B) individual farmers intensified their efforts to harvest crops from the land still under cultivation. C) farmers' incomes remained constant in real terms. D) the land that was set aside became less productive.
If a person is going to borrow $30,000 for a car and pay it off in monthly payments of $713.70 for 5 years, the internal rate of return is
A. 15%. B. 10%. C. 5%. D. 0%.
Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary