In understanding and analyzing "demand," we focus on how much of a product the buyers are
A. willing and wanting to buy at different prices.
B. actually buying now and in the recent past at various prices.
C. willing and able to buy at different prices.
D. willing and able to buy with their given income.
Answer: C
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Suppose the country of Tiny Town decided to open its borders to free trade. As a result, a number of its workers lost their jobs to international competition and can't find new jobs because their skills don't match what is required for job openings
The workers who lost their jobs and searched for new ones are best be considered part of A) frictional unemployment. B) structural unemployment C) cyclical unemployment. D) discouraged workers.
Suppose you found Eurodollars in a public park and reported it to the police. After 10 days, the police called to say that no one claimed those Eurodollars. They're now yours. The police have never seen Eurodollars before and ask: "What are these things?" You tell them it's money. "What kind of money?" they ask. You reply
a. M1 money b. M2 money c. specie d. near money e. asset money
A stock variable:
a. Is measured at a point in time. b. Is measured over a period of time. c. Is an inconsistency in terms, because something cannot be a "variable" and a "stock" at the same time.
Facebook is a social network that is subject to network externalities.
a. true b. false