When the economy moves into recession, some companies lay off workers. Those unemployed workers are experiencing cyclical unemployment
a. True
b. False
Indicate whether the statement is true or false
True
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If the current account balance shows a surplus, and the capital account also shows a surplus, then the official reserve transactions balance
A) must be positive. B) must be negative. C) must be zero. D) can either be positive, negative, or zero.
If a firm in a perfectly competitive market faces a market price of $8, and it decides to increase its production from 300 units to 550 units, the firm's total revenue will:
A. increase from $2,400 to $4,400. B. decrease from $4,400 to $2,400. C. stay the same at $8. D. likely rise, but it cannot be determined by how much.
Which of the following is not a form of nonmarket work?
a. working on your car at home b. doing your laundry in a laundromat c. making bread for a dinner at your sister's house d. caring for your sister's children as a favor e. babysitting for a fee
When price level in the United States rises,
a. there is a increased demand for borrowed money. b. producers' demand for new machinery increases, contributing to an increase in aggregate demand. c. Americans tend to buy more foreign goods and services. d. the French, Canadians, and Japanese would find our exports more attractive. e. to replenish the value of your real wealth, you would save less and consume more.