High unemployment is undesirable because it
A) results in a loss of output.
B) always increases inflation.
C) always increases interest rates.
D) reduces idle resources.
A
You might also like to view...
Which of the following statements is correct?
A) assets plus liabilities equal net worth B) assets plus net worth equal liabilities C) assets equal liabilities plus net worth D) liabilities minus net worth equal assets
The USDA threshold income level was originally based on the cost of
A) housing. B) transportation. C) basic clothing. D) a nutritionally adequate food plan.
Every year Mary rents a tiller from the local hardware store and turns over the soil in her yard to plant her garden. She decides how big a plot to till and when she is finished, she returns the tiller to the hardware store. From that point on, Mary is operating in the
a. long run because she has designated the size of her plot b. long run because the growing season is only a few months long c. short or long run because she can always decide not to plant any vegetables d. short run because she has chosen her scale of operation e. short run because once she waters the garden, she cannot get the water back
John is an athlete. He has $120 to spend and wants to buy either a heart rate monitor or new running shoes. Both the heart rate monitor and running shoes cost $120, so he can only buy one. This illustrates the principle that
a. trade can make everyone better off. b. people face trade-offs. c. rational people think at the margin. d. people respond to incentives.