During a severe recession, we would expect output to fall the most in:
A. the health care industry.
B. the clothing industry.
C. agriculture.
D. the construction industry.
D. the construction industry.
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Internal stress originates in:
a. The outside coming in, intruding b. One's own mind and body c. Acute stress d. On-going role playing, not being genuine
Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Fred's opportunity cost to produce one cake is
A) one-half pie. B) two pies. C) six pies. D) four pies.
The aggregate supply curve indicates the
a. relationship between prices and the aggregate quantity of goods and services purchased by consumers, investors, governments, and foreigners (net exports). b. relationship between prices and the natural rate of unemployment. c. relationship between the real wage rate and the quantity of labor supplied by households. d. quantity of goods and services producers will supply at different price levels.
When a binding price floor is imposed on a market to benefit sellers,
a. every seller in the market benefits. b. all buyers and sellers benefit. c. every seller who wants to sell the good will be able to do so, but only if he appeals to the personal biases of the buyers. d. some sellers will not be able to sell any amount of the good.