Sally lost her job when her company went out of business because of a recession. This is an example of:
A. frictional unemployment.
B. structural unemployment.
C. cyclical unemployment.
D. technological unemployment.
Answer: C
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If the dollar is undervalued against the peso, it implies that:
A) quantity of dollar supplied in exchange of pesos equals the quantity of dollars demanded in exchange of pesos in the foreign exchange market. B) quantity supplied of dollar in exchange of pesos exceeds the quantity of dollars demanded in exchange of pesos in the foreign exchange market. C) the exchange rate between the dollar and the peso is flexible. D) quantity supplied of dollar in exchange of pesos is less than the quantity of dollars demanded in exchange of pesos in the foreign exchange market.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
The market power for a firm in the Cournot model will be greater
A) if the market demand is more elastic. B) if there are fewer firms in the industry. C) if market demand is higher. D) the more output this firm produces.
The market clearing price refers to the:
A. equilibrium price that quantity supplied is the highest possible. B. price where quantity demanded and quantity supplied are the same. C. minimum price at which items could be sold. D. maximum price where all suppliers are willing to sell all their production.