The difference between what a consumer is willing to pay for a unit of a good and what must be paid when actually buying it is called
A) producer surplus.
B) consumer surplus.
C) cost benefit analysis.
D) net utility.
B
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The unemployment that fluctuates over the business cycle is called
A) frictional unemployment. B) structural unemployment. C) full unemployment. D) cyclical unemployment. E) natural unemployment.
The first step in measuring the CPI is to
A) select the market basket. B) conduct a monthly survey. C) collect prices for the basket of goods and services. D) interview businesses.
A decrease in the real interest rate outside of the United States will ________ the demand for the dollar and ________ the demand for foreign financial assets
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
If profit per unit equals (price ? cost per unit) and costs are temporarily fixed, then the aggregate supply curve will have
A. a basic “U” shape. B. a negative slope. C. a positive slope. D. All of these responses are correct.