During the expansion phase of the business cycle, which of the following eventually increases?
A) income B) production C) employment D) all of the above
D
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During a recession, the
A) cyclical rate of unemployment is positive. B) natural rate of unemployment has fallen. C) cyclical rate of unemployment is zero. D) cyclical rate of unemployment is negative.
In this case, how much of the $5.00 excise tax is paid by the consumer?
Consider the following market for CFC-11, a known ozone-depleting substance: Demand: Q= 20 – 1.5P Supply: Q= 5+0.5P whereP is price per pound. Assume the governmental authority imposes a $5 per pound excise tax on CFC-11, which shifts the supply function to Q’ = 2.5 +0.5P.Use this information for any or all of the next three questions below. a. $3.75 b. $2.25 c. $5.00 d. $1.25 e. none of the above
Which of the following is least likely to affect the supply of labor in any particular industry?
A. The size of the available working population B. The nonmonetary attractiveness of the job C. The amount of ability and training necessary to enter the job D. The wages offered in the industry
External debt rises from 5 percent of GDP to over 30 percent of GDP. This increase in external debt is:
A. a potential problem because government debt is no different from the debt of individuals. B. not a potential problem because government debt differs from the debt of individuals. C. a potential problem because repayment implies a net reduction in the income of an average citizen. D. not a potential problem because repayment does not imply a net reduction in the income of an average citizen.