The increase in the unemployment rate during a recession is associated with which type of unemployment?
A. Cyclical unemployment
B. Frictional unemployment
C. Structural unemployment
D. Nominal unemployment
Answer: A
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A country's balance of payment accounts include its government budget deficit or surplus
Indicate whether the statement is true or false
The Laffer curve shows that as tax rates rise from 0 percent to 100 percent, tax revenues will
a. rise b. first rise, then fall, then rise again c. fall d. first rise, then fall e. remain constant
If demand for a good increases when incomes rise and decreases when incomes fall, the good is called a(n) ______ good.
a. substitute b. normal c. inferior d. complement
The main factor in determining how much one plot of land is worth relative to another plot is
A. its fertility. B. the average amount of rainfall. C. its location. D. None of the choices are true.