Recall the Application about the study done about the perceptions and behavior of the unemployed in Great Britain to answer the following question(s).According to this Application, the more unhappy the unemployed individuals were about their situations:
A. the more likely they were to remain unemployed.
B. the more aggressive they would be to try to find a job.
C. the more they congregated around others who were unemployed.
D. the longer they collected unemployment benefits.
Answer: B
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
If the price elasticity of demand is equal to zero and the price was to rise, the quantity demanded would:
A. decrease slightly. B. fall to zero. C. not change. D. increase.
________: a measure of the response of consumption of a good or service to changes in the price of another good or service
Fill in the blank(s) with correct word
Refer to the information provided in Figure 33.2 below to answer the question(s) that follow.
Figure 33.2Refer to Figure 33.2. the theory of comparative advantage suggests that
A. England should export trucks and import cars. B. the United States should import cars and export trucks. C. England should export both trucks and cars. D. the United States should export both trucks and cars.