Cyclical unemployment is:
A. unemployment caused by short-term economic fluctuations reflected in GDP growth.
B. unemployment resulting from a mismatch between the skills workers can offer and the skills demanded.
C. unemployment caused by workers who are changing their location, job, or career.
D. the effect of wages remaining persistently above the market-clearing level.
A. unemployment caused by short-term economic fluctuations reflected in GDP growth.
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Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$3500.75$400$400$200Determine the change in the equilibrium real GDP (find ?Y) following a decrease in government spending from 400 to 300 (?G = -$100).
A. positive $500 B. negative $400 C. positive $400 D. negative $500
A monopolistically competitive firm shuts down in the short run if ________
A) marginal revenue equals marginal cost B) total revenues do not cover variable costs C) marginal revenue covers average fixed costs D) average total cost exceeds price
Discuss the quantity theory of money. Be sure to mention the velocity of circulation and the equation of exchange
What will be an ideal response?
If a perfectly competitive firm is producing 2,000 units and, at the 2,000th unit, the difference between marginal revenue and marginal cost (MR - MC) is zero, which of the following is true?
A) The firm is maximizing profit. B) The firm should decrease production to maximize profit. C) The firm should increase production to maximize profit. D) The firm should exactly double production to maximize profit.