In terms of aggregate supply, a period in which nominal wages and other resource prices are unresponsive to price-level changes is called the:
A. long run.
B. short run.
C. immediate market period.
D. very long run.
B. short run.
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The benefit that Jack receives from consuming a pack of french fries is 10 utils. He expects a future health cost of eating french fries at 20 utils
If Jack discounts delayed utils with a weight of 1/4, should he consume french fries? Explain your answer.
The income that people earn is called
a. national income b. personal income c. disposable personal income d. transfer payments e. net national product
If all large firms in the economy were broken into smaller firms, the result might be
a. decreased manufacturing efficiency in some industries. b. increased prices for some manufactured goods. c. decreased investment in research and development in some industries. d. All of the above are correct.
During the Great Depression of the 1930s when the unemployment rate was exceptionally high due to the Great? Depression, the government had employment? programs, such as the Civilian Conservation? Corps, which built campsites and planted trees. These programs were aimed at reducing which type of? unemployment?
A) cyclical
B) avoidable
C) structural
D) frictional
E) discouraged