When the economy enters a prosperity phase, unemployment insurance payments
a. fall, causing incomes and spending to fall more slowly than real GDP
b. fall, causing incomes and spending to fall more rapidly than real GDP
c. rise, causing incomes and spending to rise more slowly than real GDP
d. rise, causing incomes and spending to rise more rapidly
e. fall, causing incomes and spending to fall at the same rate as real GDP
C
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If a tax is imposed in a bargaining game, the players' cooperative surplus
A) increases. B) declines. C) remains unchanged. D) increases for one player and decreases for the other.
According to your text, which group or organization makes choices?
A) Al Qaeda B) New York City C) The Microsoft Corporation D) The Iraqi Government E) None of the above.
In 2013, which of the following countries’ exports of goods and services as a percentage of GDP exceeded 50%?
a. United States b. Canada c. India d. Korea
Exhibit 4-3 Supply and demand curves
The market shown in Exhibit 4-3 is initially in equilibrium at E4. Changes in market conditions result in a new equilibrium at E3. This change is stated as a(n):
A. increase in supply and an increase in quantity demanded. B. increase in supply and a decrease in demand. C. decrease in supply and a decrease in quantity demanded. D. increase in demand an increase in supply.