The reduction of structural unemployment in the United States' economy may require
a. an increase in the minimum wage.
b. a reduction in government spending.
c. an decrease in interest rates.
d. increased spending on worker retraining.
d
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Holding other factors constant, an incline in the price of new capital goods will:
A. decrease investment. B. decrease national saving. C. increase investment. D. increase national saving.
The price elasticity of demand depends on the
A) proportion of consumers' budgets spent on the good. B) number of available substitutes. C) extent to which the commodity is a luxury. D) all of the above.
If a firm is producing an output level for which the market price exceeds the firm’s marginal cost,
a. consumers would be willing only to pay a price lower than what it costs the firm to produce another unit. b. consumers would be willing only to pay a price equal to what it costs the firm to produce another unit. c. consumers would be willing to pay a price greater than what it costs the firm to produce another unit. d. consumers would be willing only to pay a price equal to or lower than what it costs the firm to produce another unit.
While hurricane Katrina severely disrupted the normal flow of economic activity in the Gulf Coast States in 2005, in the periods following the hurricane
a. the price level fell below 100 b. unemployment in the U.S. spiked c. aggregate demand increased, sparked by the need for reconstruction d. real GDP fell to 1980's levels e. imports rose dramatically