The natural rate of unemployment includes
A. cyclical unemployment.
B. part-time employment.
C. hidden unemployment.
D. structural unemployment.
Answer: D
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Recessions in the United States typically are:
A. widely felt outside the United States. B. confined to the domestic economy. C. limited to specific regions of the country. D. limited to a few industries.
A service station owner in Staten Island, New York, was worried that raising the price of gasoline would cause the quantity demanded to fall by so much that he would be in a worse situation than if he did not raise the price
If raising the price of gasoline would cause the owner to receive less total revenue from the sale of gasoline, the demand for gasoline is A) inelastic. B) elastic. C) unit elastic. D) perfectly inelastic.
Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for frozen yogurt. Which panel describes what happens in the market for frozen yogurt when the price of ice cream, a substitute product, increases?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Which income maintenance program was started to support the nation's farmers?
A) Supplemental Security Income B) food stamps C) Earned Income Tax Credit program D) AFDC