The amount of money income received in a given time period, measured in current dollars, is
A. Nominal income.
B. Asset income.
C. Fixed income.
D. Real income.
Answer: A
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Frictional unemployment exists because:
A) firms do not make an attempt to advertise the vacancies they have. B) unemployment benefits are capped in most economies. C) firms and workers have imperfect information about each other and the state of the economy. D) job markets are heavily regulated by the government..
Refer to the scenario above. The housekeeper behaves in this particular way due to the ________
A) existence of asymmetric information B) presence of a positive externality C) presence of a free-rider problem D) existence of high incentive to work
Countries that are unable to produce goods as efficiently as other countries will never be able to trade
a. True b. False Indicate whether the statement is true or false
Keynes believed that during an economic downturn, firms would ________ because consumers would ________.
A. hire more workers; increase their spending B. lay off workers; spend too much C. hire more workers; decrease their spending D. have no incentive to hire workers; spend too little