When cyclical unemployment is zero,
A) frictional unemployment is zero.
B) cyclical and frictional unemployment are zero.
C) structural unemployment is zero.
D) the unemployment rate equals the natural unemployment rate.
E) the natural unemployment rate is zero.
D
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Based on the model, the MPC function is:
Consider the following model for the production of refined oil: MSC = 10 + 0.5Q; MEC = 0.3Q; MSB = 30 – 0.3Q; MEB = 0. a. MPC = 20 – 0.8Q c. MPC = 10 + 0.8Q b. MPC = 30 – 0.6Q d. MPC = 10 + 0.2Q
Consider the following statements:
a. Soda drinkers purchase more soda from a grocery store that sells soda at a lower price than other rival grocery stores in the area. b. Homeowners do not take steps to increase security even though they believe it is more costly to allow burglaries than to install security monitoring equipment. c. Manufacturers produce less of a particular cell phone when its selling price rises. Which of the above statements demonstrates that economic agents respond to incentives? A) a only. B) b only. C) c only. D) a and b. E) a, b, and c.
Some economists claim that investment and economic growth are dependent upon income inequality
Indicate whether the statement is true or false
A decrease in supply will occur when
A. the supply curve shifts upward to the left. B. the supply curve shifts downward to the right. C. the demand curve shifts downward to the left. D. the demand curve shifts upward to the right.