Environmental regulation reduces the demand for Pennsylvania coal and the unemployment rate in Pennsylvania increases. This is an example of
A. regulatory unemployment.
B. frictional unemployment.
C. structural unemployment.
D. cyclical unemployment.
Answer: C
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"Information Problematic" borrowers are generally
A) municipal governments. B) small businesses and individuals. C) large businesses. D) federal government.
When productive activities are organized according to the principle of the division of labor
A) scarcity is eliminated. B) we do not devote enough resources for capital investment. C) total output increases due to the advantages of specialization. D) an inefficient outcome results.
Over the past century, the growth rate of real GDP in the United States has averaged approximately
a. 1 percent. b. 3 percent. c. 6 percent. d. 10 percent.
Suppose that Tom bought a bike from Helen for $195. If Helen's reservation price was $185, and Tom's reservation price was $215, the total economic surplus from this transaction was:
A. $215 B. $195 C. $185 D. $30