Which of the following is a determinant of supply?
A. number of consumers
B. tastes and preferences of consumers
C. consumer income
D. technology
Answer: D
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The economy's self-correcting mechanism always tends to push the unemployment rate back toward a specific rate of unemployment called
a. the ideal rate of unemployment. b. the natural rate of unemployment. c. the full rate of unemployment. d. the mature rate of unemployment.
Use the aggregate expenditures model and the following values to answer the next question.AMPCIGT$9000.9$2,500$2,500$1,000Determine equilibrium consumption for this economy.
A. $45,000 B. $44,100 C. $50,000 D. $45,900
A potential problem with piece-rate plans is that:
A. workers have no incentive to work hard. B. workers will produce a large quantity. C. workers may stress quantity instead of quality. D. it is difficult for managers to control.
Which of the following statements is most correct?
A. A recession officially begins when unemployment exceeds 5.0 percent. B. There is no hard and fast definition of a recession. C. The official date of a recession is determined by the Federal Reserve Board, but usually with at least a three-month delay. D. A recession is officially defined as two consecutive quarters where the real growth rate is negative.