The birthrate in the United States decreased during the 1960s, and as a result
A) structural and frictional unemployment increased.
B) cyclical unemployment declined.
C) cyclical unemployment increased.
D) the natural rate of unemployment declined.
D
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Adam Smith
A) is responsible for refining the model of supply and demand. B) is the author of this text. C) is considered the founder of economics. D) introduced the concept of ceteris paribus to the discussion of supply and demand.
Income and revenue from taxes have a specific relationship during recessions. What is it?
A) incomes fall, tax revenue increases B) incomes rise, tax revenue decreases C) incomes fall, tax revenue decreases D) incomes rise, tax revenue increases
Based on the graph showing equilibrium output and price for a monopolist, if a monopolist realizes it is producing at QM, it should ______.
a. reduce output to Q1
b. increase output to Q2
c. maintain output at QM
d. set output at QD
The trade-off of saving the spotted owls in the Pacific Northwest was
A. the loss of logging activities by lumber companies. B. the loss of salmon in the region. C. the increase in the number of marbled murrelets. D. none.