Working as an elevator operator used to be a common job in the workforce decades ago, but today few jobs remain. The unemployment created by the introduction of automatic elevators would be considered:
A. cyclical.
B. structural.
C. frictional.
D. wait.
Answer: B
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In the figure above, the shift in the supply of loanable funds curve from SLF1 to SLF2 could be the result of
A) an increase in expected rate of profit. B) a decrease in disposable income. C) an increase in expected future disposable income. D) an increase in the real interest rate. E) a decrease in wealth
In absolute value, the tax multiplier is greater than the government purchases multiplier
Indicate whether the statement is true or false
What type of relationship does expected profitability have with respect to Investment spending?
A. Positive B. Constant C. Negative D. Indirect
Which of the following statements about economic models is TRUE?
A) Economic models are not empirically testable. B) The predictive power of models is not as important as they serve the preferences of economists. C) Economic models are designed so that every detail of the real world can be analyzed. D) Every economic model is based on a set of assumptions.