Recall the Application about the study done about the perceptions and behavior of the unemployed in Great Britain to answer the following question(s).According to this Application, becoming unemployed caused ________ in perceived well-being for men if those in their peer group were also unemployed.
A. a larger decrease
B. a smaller decrease
C. no change
D. an large increase
Answer: B
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Cartels are thought to be inherently unstable because: a. the costs of enforcing cartel agreements are very low
b. each cartel member can privately profit from increasing production beyond agreed-upon levels. c. customers force cartel members to increase production and reduce prices. d. cartel agreements are legally binding and can be upheld in court.
External benefits are those that accrue:
A. indirectly to the decision maker of a market exchange. B. to the government without its direct intervention. C. without compensation to someone other than the person who caused it. D. directly to the decision maker of a market exchange.
If the current price is less than the market clearing or equilibrium price, we would expect:
A) a surplus. B) downward pressure on price. C) upward pressure on price. D) no change in the market price.
The country of Doomsville is currently in a recession. The government of Doomsville, in an effort to maintain its tax revenues in a time when incomes are falling, decides to increase the tax rate. Would this policy help or hurt the recession?
A) This policy would likely help Doomsville recover faster. B) This policy would likely make Doomsville's recession worse. C) This policy would likely have no effect on Doomsville's economy. D) This policy would have an unknown effect on Doomsville's economy.