Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; potential
C. higher; higher
D. lower; higher
Answer: B
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Rob is considered unemployed in the Current Population Survey if he
A) does not have a job and stopped looking for a job at least two months ago. B) is in his last term of college before he graduates. C) has looked for a job in the last four weeks but has not found a job. D) has a part-time job but would like a full-time job. E) has worked at least 1 hour but not more than 15 hours as a paid employee during the last week.
The balance of trade records information about: a. purchases of U.S. merchandise exports by foreigners
b. purchases of foreign financial assets by Americans. c. American purchases of foreign services while traveling abroad. d. errors and omissions.
Suppose there is an increase in both the supply and demand for personal computers. Furthermore, suppose the supply of personal computers increases more than demand for personal computers. In the market for personal computers, we would expect the
a. equilibrium quantity to rise and the equilibrium price to rise. b. equilibrium quantity to rsie and the equilibrium price to fall. c. equilibrium quantity to rise and the equilibrium price to remain constant d. equilibrium quantity to rise and the change in the equilibrium price to be ambiguous. e. change in the equilibrium quantity to be ambiguous and the equilibrium price to rise.
Briefly describe how warranties send a signal.
What will be an ideal response?