In August 2015, the U.S. unemployment rate was highest for
A) whites.
B) high school dropouts.
C) Hispanics.
D) African Americans.
E) Asians.
D
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If movie theatres decided to increase the price for the movie tickets, holding other factors constant, what would happen to the demand for popcorn in the theatres? a. the demand for popcorn would shift to the left because popcorn and movies are substitute goods
b. the demand for popcorn would shift to the left because popcorn and movies are complementary goods. c. the demand for popcorn would shift to the right because popcorn and movies are substitute goods. d. the demand for popcorn would shift to the right because popcorn and movies are complementary goods.
The classical model does a poor job of explaining the __________ because it assumes that the __________ always clears
a. long run; labor market. b. long run; financial market. c. short run; labor market. d. short run; financial market. e. short run; housing market.
Effective minimum-wage laws will most likely
a. increase demand for labor. b. create a surplus of labor. c. increase incomes for all unskilled workers. d. decrease incomes for all unskilled workers.
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.