Unemployment compensation payments:
A. rise during a recession and thus reduce the severity of the recession.
B. rise during a recession and thus increase the severity of the recession.
C. rise during inflationary episodes and thus reduce the severity of the inflation.
D. fall during a recession and thus increase the severity of the recession.
Answer: A
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If the multiplier is 10 and income increases by $1000, then saving will increase by
A) $90. B) $900. C) $100. D) $1000.
A surplus in a country's trade balance means that:
a. its net exports exceed transfer payments. b. the country's currency is over-valued. c. the value of its net exports is positive. d. imports into the country exceed exports. e. domestic savings exceeds domestic investment.
The so-called "bridge to nowhere" in Alaska is an example of
A. a market failure. B. the incentive for politicians to bring home as much federal money as possible. C. a government failure. D. a market failure AND the incentive for politicians to bring home as much federal money as possible. E. the incentive for politicians to bring home as much federal money as possible AND a government failure.
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Exhibit 8-3 Demand and cost curves for GeneTech, a monopolist with a patented vaccine
Consider Exhibit 8-3. Suppose GeneTech's patent expires and the market for the vaccine becomes perfectly competitive. Which of the following price and quantity combinations would be most likely?
A. $45 per dose and 100 doses per hour B. $40 per dose and 200 doses per hour C. $35 per dose and 300 doses per hour D. $28 per dose and 450 doses per hour