If you hear a person saying "I lost my job at the GM plant because car manufacturing is slow due to a slowdown in the economy," you should conclude that this person is ________ unemployed.
A. structurally
B. cyclically
C. frictionally
D. seasonally
Answer: B
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Pat can either drive to work, which takes half an hour and uses $1.50 worth of gas, or take the bus, which takes an hour and costs $1.00. How should Pat get to work?
A. Pat should take the bus if saving half an hour is worth $0.50 or more. B. Pat should drive if saving half an hour is worth $0.50 or more. C. Pat should drive because it saves half an hour relative to taking the bus. D. Pat should take the bus because it costs $0.50 less than driving.
To maximize profit, manufacturers should set the ________ resale price that ________ the retailers' cost of providing product-specific services.
A) minimum; covers B) minimum; does not cover C) maximum; does not cover D) maximum; covers
In the above figure, along the section of the demand curve between point a and point b, demand is
A) elastic. B) inelastic. C) unit elastic. D) unit inelastic.
A bond is essentially:
A. a stock. B. a loan. C. an equity. D. a derivative.