The fraction of people who would like to be employed, but can't find work is called the:
A. inflation rate.
B. participation rate.
C. average labor productivity rate.
D. unemployment rate.
Answer: D
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In the above figure, Sheryl's monthly budget line for movies and plays shifted, as shown. The shift in the budget line is parallel, so the shift might be because
A) the price of a movie fell and nothing else changed. B) the price of a play fell and nothing else changed. C) Sheryl's income decreased and nothing else changed. D) Sheryl's income increased and nothing else changed.
According to Linder, the gains from international trade come about because consumers are exposed to
A) a greater variety of goods. B) increasing returns to scale. C) imperfect competition. D) None of the above.
What will be the result in a growing economy if increases in aggregate demand outpace rightward shifts of the long-run aggregate supply curve?
A) secular deflation B) inflation accompanied by declines in real GDP C) inflation accompanied by increases in real GDP D) a decline in consumption spending
Alex is playing his music at full volume in his dorm room. The other people living on his floor are enjoying his music, but Alex does not know or care. Alex's music playing is an example of a:
A. Pareto externality. B. negative externality. C. normative externality. D. positive externality.