The duration of unemployment ________ during a recession.
A. remains constant.
B. varies between 5 and 14 weeks.
C. increases.
D. decreases.
Answer: C
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Goods and services bought by the government account for about ________ percent of total production
A) 8 B) 2 C) 67 D) 17 E) 35
If Finland has an absolute advantage in the production of two goods compared to Latvia, Finland can still benefit from trade with Latvia
Indicate whether the statement is true or false
If the production possibilities curve is a straight line,
a. opportunity costs rise as output of either commodity is expanded. b. resources are not equally productive in the production of both goods. c. opportunity costs are negative. d. resources can be moved from the production of one good to production of others with no loss of productivity.
Expansionary fiscal policy:
What will be an ideal response?