Economic variables that generally move in tandem with the overall phases of the business cycle are called:
A) leading indicators.
B) coincident indicators.
C) lagging indicators.
D) none of the above.
B
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When workers and employers correctly anticipate the rate of inflation
A) there will be no unemployment. B) there will be only involuntary unemployment. C) unemployment will be at the natural rate. D) workers will underestimate the real wage.
The following table provides information about production at the XYZ-TV Company.Number of WorkersTVs ProducedMarginal ProductValue of Marginal Product00------13535$35,00026833$33,00039931$31,000412829$29,000515527$27,000How many workers will XYZ-TV Company hire if the going wage for TV production workers is $28,000?
A. 1 B. 2 C. 3 D. 4
An increase in the price level in an economy will decrease the real GDP demanded along the aggregate demand curve.
a. true b. false
Which of the following is not an advantage of risk pooling?
A) By insuring large groups as opposed to individuals, health insurance providers reduce adverse selection. B) It gives very sick people in the group the same access to health care and to pay the same premiums as healthy individuals. C) It is easier for an insurance company to estimate the average number of claims likely to be filed under a group policy than it is to predict the number of claims likely to be filed under an individual policy. D) Individuals who are insured and therefore do not have to pay the full cost of health care services may be inclined to over-use those services.