Cyclical unemployment is caused by
A) technological change.
B) fluctuations in the business cycle.
C) a dynamic economy in which people want to switch jobs sometimes.
D) predictable shifts in production associated with different seasons.
B
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The marketing people at Ben and Jerry's Ice Cream Company believe that if they lower the price of their Cherry Garcia flavor ice cream by 25 percent, the quantity demanded will increase by 5 percent. If they are correct in their belief, then
A) the demand for Cherry Garcia is price elastic. B) their total revenue from Cherry Garcia will increase if they lower the price. C) the demand for Cherry Garcia is income elastic. D) their total revenue from Cherry Garcia will decrease if they lower the price.
If the price system is allowed to function without interference and a surplus occurs, quantity demanded will _____________ and quantity supplied will _____________ until the price falls to its equilibrium.
A. rise; rise B. fall; fall C. rise; fall D. fall; rise
A prolonged period during which stock prices continue to decline is known as a
a. bear market b. bull market c. crash d. depression e. none of these
Many years ago, the traditional mortgage loan structure specified
A. a down payment of 20%. B. a variable interest rate. C. an initial loan-to-value ratio of 100%. D. all of the options are correct.