Suppose the United States enters a recession, what type of unemployment would be most likely to rise as a result of the recession?
Select one:
a. Frictional unemployment
b. Sectoral unemployment
c. Cyclical unemployment
d. Seasonal Unemployment
c. Cyclical unemployment
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Paper currency that has been declared legal tender but is not convertible into coins or precious metals is called ________ money
A) commodity B) fiat C) electronic D) funny
When the average total cost curves for firms are unaffected by the entry of other firms,
a. it is an increasing-cost industry b. it is a decreasing-cost industry c. the market's equilibrium price will eventually be restored after the market demand increases d. firms will charge a higher price when demand rises e. the long-run supply curve is positively sloped
Ellie has been working for an engineering firm and earning an annual salary of $80,000 . She decides to open her own engineering business. Her annual expenses will include $15,000 for office rent, $3,000 for equipment rental, $1,000 for supplies, $1,200 for utilities, and a $35,000 salary for a secretary/bookkeeper. Ellie will cover her start-up expenses by cashing in a $20,000 certificate of
deposit on which she was earning annual interest of $500 . According to an economist, which of the following revenue totals will yield Ellie's business $50,000 in economic profits? a. $55,200 b. $100,200 c. $132,500 d. $185,700
By itself, an increase in the number of suppliers in a market results in a
A) rightward shift in the supply curve. B) leftward shift in the supply curve. C) movement down along the supply curve. D) Both answers A and C are correct.