Americans would probably be supportive of
A. strict controls on hours of work.
B. limits on income potential.
C. mandatory work limits.
D. loose controls on economic activities.
Answer: D
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The natural rate of unemployment
A. means that the economy will always operate at that rate. B. is a fixed unemployment rate that does not change over time. C. means that the economy will always realize its potential output. D. is equal to the total of frictional and structural unemployment.
The analysis of how asymmetric information problems affect economic behavior is called ________ theory
A) uneven B) parallel C) principal D) agency
In the above figure, at the profit-maximizing rate of production for the perfectly competitive firm, total cost is
A. $130. B. $30. C. $70. D. $100.
Assume the graph shown represents Dana's budget constraint. If Dana's income to spend on these two items decreased, which of the following could be said?
A. Dana will derive more utility from each item, because she values each one more now that she's poorer. B. Dana will be able to buy less of both goods. C. Dana will buy more hairbands now because they are relatively less expensive. D. All of these are true.