________ unemployment is NOT associated with economic fluctuations.
A. Structural
B. Cyclical
C. Frictional
D. both Structural and Frictional
Answer: D
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The objective of the household is to
a. maximize household wealth b. own as much land as possible c. save as much money as possible d. acquire as many goods as possible e. maximize utility
Compared to other countries, the U.S. economy has the ____________ GDP in the world.
a. largest b. smallest c. flattest d. weakest
Net exports equal
a. exports plus imports. b. imports minus exports. c. Y - (C + I + G). d. Y - (C - I - G).
The socially optimal amount of pollution abatement occurs where society's marginal:
A. benefit of abatement exceeds its marginal cost of abatement by the greatest amount.
B. benefit of abatement equals its marginal cost of abatement.
C. benefit of abatement is zero.
D. cost of abatement is at its maximum.