When bank tellers converse with each other, keeping customers waiting in line, they are
A) unemployed.
B) out of the labor force.
C) working in the best interest of the agent.
D) working in the best interest of the principals.
C
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Identify the two losses of efficiency associated with the imposition of a tariff
What will be an ideal response?
If the long-run supply curve slopes upward, we know that this is
A) a decreasing-cost industry. B) a constant-cost industry. C) an increasing-cost industry. D) a situation in which no input prices change as firms enter and exit the industry.
Which of the following thoughts do the Keynesian and the new Keynesian economists share?
a. The belief that wages and prices are not flexible in the short run b. The belief that the aggregate supply curve is always a horizontal line c. The belief that the government's role in the economy should be minimized d. The belief that the natural rate of unemployment in an economy is always zero e. The belief that prices are constant and that changes in aggregate expenditures determine equilibrium real GDP
In the U.S. economy, the inflation rate in 1975 peaked at ________ percent.
A. 9.2 B. 11.1 C. 14.2 D. 22.4