On average, in the recessions since 1950, it has taken ________ for employment to return to its cyclical peak
A) about 6 months B) about 1 year C) about 18 months D) almost 2.5 years
D
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The United States imports cars from Japan. If the United States imposes a tariff on cars imported from Japan
A) U.S. consumers lose and Japanese producers gain. B) U.S. tariff revenue equals the loss of U.S. consumer surplus. C) U.S. consumers lose and U.S. producers gain. D) U.S. car manufacturers gain revenue equal to the revenue lost by Japanese car manufacturers.
The marginal cost of investment for the firm is equal to
A) 1. B) -1. C) MP'K. D) -MP'K.
Which of the following is true of price changes in currencies under the fixed-rate system?
a. Frequent occurrence b. Low magnitude c. Infrequent, but high magnitude d. Frequent, but low magnitude
A minimum wage
A. increases the number of unskilled workers who are employed. B. increases wages to all unskilled workers. C. increases the wages paid to unskilled workers who are employed. D. increases cyclical unemployment.