Auto workers laid off from Hot-Rod Autoworks as the result of a recession are considered:
A. structurally unemployed.
B. cyclically unemployed.
C. frictionally unemployed.
D. seasonally unemployed.
Answer: B
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Scooters are a normal good and buyers' incomes decrease. Which of the figures above best illustrates how this change affects the demand curve for scooters?
A) Figure A B) Figure B C) Figure C D) Figure D E) None of the above answers is correct because the decrease in income will affect the supply curve not the demand curve.
A value of the absolute price elasticity of demand equal to 0.6 indicates that
A) a 6 percent increase in price leads to a 10 percent decrease in quantity demanded. B) a 10 percent increase in price leads to a 6 percent decrease in quantity demanded. C) a 0.6 percent increase in price leads to a 1 percent decrease in quantity demanded. D) a 1 percent increase in price leads to a 6 percent decrease in quantity demanded.
The Civil Aeronautics Board (CAB) was:
a. established in 1934 and reorganized in 1984. b. established in 1938 and eliminated in 1984. c. established in 1938 and reorganized in 1991. d. never a regulatory agency.
What happened after the failure of the Bank of the United States in late 1930?
a. The stock market experienced a major crash. b. The FDIC stepped into cover deposits. c. People converted currency into deposits. d. Many banks stopped lending excess reserves.