A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. This is an example of
A. cyclical unemployment.
B. frictional unemployment.
C. seasonal unemployment.
D. structural unemployment.
Answer: A
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Which of the following would be likely to raise your opportunity cost of attending a big basketball game this Sunday night? a. A friend calls you up and offers you free tickets to a concert by one of your favorite bands on Sunday night. b. Your employer offered you double your usual wage to work this Sunday night
c. Late Friday afternoon, your physics professor makes a surprise announcement that there will be a major exam on Monday morning. d. All of the above would likely raise the opportunity cost of attending the game.
The primary objective of inward-oriented strategies is:
a. to raise government revenue through tariffs and other import taxes. b. to lower the domestic price of imports. c. to replace imported manufactured goods with domestic goods. d. to encourage imports through reduction of tariff and non-tariff barriers. e. to encourage the production of those goods in which the country has an absolute advantage.
Which of the following is included in GDP?
a. The imputed rental value of a family-owned home b. The sale prices of all previously built homes c. Social security payments to retirees d. The salary of a U.S. scientist working in a foreign country e. Purchases of stocks and bonds
A recent article in the Financial Times summarizes and criticizes the standard approach to focusing responsibility for the Eurozone debt crisis, for which it blames:
A) the operations of the ECB. B) the restraint on borrowing, which is an integral part of the Eurozone convergence criteria. C) the irresponsibility of the ECB for funding domestic bank purchases of their government's bond issues. D) speculators, irresponsible fiscal deficits, and poor risk assessment.