Labor unions and minimum wage laws may create ________ unemployment.
A. cyclical
B. frictional
C. structural
D. environmental
Answer: C
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The income elasticity for cars is high. This is best illustrated by which of the following?
(a) College students buy a high percentage of the lower priced, dependable foreign cars. (b) The purchase of all hybrid cars increases in response to the call to reduce the auto's footprint. (c) U.S. cars built by foreign automakers sold at relatively lower prices than their equal American counterparts. (d) All of the above.
An increase in the amount of money in circulation would cause a
A) shift of the aggregate demand curve to the right. B) shift of the aggregate demand curve to the left. C) movement up the aggregate demand curve. D) movement down the aggregate demand curve.
If a pair-wise majority vote was held to determine which school project gets funded and the voters' preferences are shown in the table, which option would David like to see voted on first?
A. Library and computer lab
B. Computer lab and gym
C. Gym and library
D. It doesn’t matter which options are considered first.
When economists disagree about whether legislation is a good idea, even when they agree about its impacts, the disagreements are usually over
a. normative issues b. positive issues c. the mathematical calculations in an economic model d. whether microeconomics or macroeconomics is more important e. whether economic theory is useful in explaining the behavior of actors in the economy