In the mid-1970s, the United States switched from running a trade ________ to running a trade ________.
A. deficit; balance
B. deficit; surplus
C. surplus; deficit
D. balance; surplus
Answer: C
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Public goods are
a. valuable socially. b. not depletable and not excludable. c. subject to the "free rider" problem. d. All of the above are correct.
If the price level falls, the money demand curve will
a) shift to the right b) shift to the left c) become steeper d) become flatter e) none of the above
In a market with supply and demand curves as shown below, a price ceiling of $2.50 will result in:
A. A surplus of 10 units
B. A shortage of 10 units
C. No shortage or surplus
D. A black market price greater than $2.50
By offering training to workers whose firms laid them off because of competition from foreign firms, the federal government is attempting to reduce
A) frictional unemployment. B) structural unemployment. C) cyclical unemployment. D) seasonal unemployment.