Suppose that the number of jobs in the fishing industry decreases but the number of jobs in the travel industry increases. Initially, ________
A) the economy remains at full employment
B) structural unemployment increases
C) there is a shortage of workers in both sectors
D) cyclical unemployment increases
B
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Applying a uniform markup to set the price of the various products sold by a firm is more profitable than varying the markup based on differences in the price elasticity of demand for the firm's products
Indicate whether the statement is true or false
Which of the following expenditures would increase the consumption component of U.S. GDP?
A. You buy a pizza. B. You buy a new house. C. You buy 1,000 shares of stock. D. You buy a used book about economics.
In golf and tennis, there is little concern over player strikes because
A. they are amateurs and do not wish to be paid. B. there is a direct relationship between winning and earning. C. the golf and tennis owners have always been fair. D. even the average players make more than the stars in the other sports.
Which of the following policies by the Federal Reserve is likely to increase the money supply?
A. Reducing reserve requirements B. Selling government bonds C. Increasing the discount rate D. Increasing interest on reserves