An increase in the unemployment rate would be shown on a production possibilities curve by
A. shifting the entire curve outward.
B. shifting the entire curve inward.
C. moving from a point on or near the curve to a point closer to the origin, rather than shifting the entire curve.
D. moving from a point inside the curve to a point on the curve, rather than shifting the entire curve.
C. moving from a point on or near the curve to a point closer to the origin, rather than shifting the entire curve.
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In the market for cotton, suppose the equilibrium price is $10 per ton and the equilibrium quantity is 100 tons. If the government then imposes a price support of $5 per ton,
A) a deadweight loss is created. B) the market becomes more efficient. C) consumer surplus increases. D) producers' economic profits increase. E) None of the above answers is correct.
Which of the following statements is true?
a. The four phases of the business cycle, in order, are: peak, recovery, trough, recession. b. When unemployment is rising then real GDP is rising. c. The economic problem typically associated with a recovery is rising unemployment. d. Full employment exists in an economy when the unemployment rate equals the sum of frictional, and structural unemployment rates.
A good that is excludable but not rival is known as a club good
a. True b. False Indicate whether the statement is true or false
The problem of political instability has been greatest in which continent?
A. South America B. Europe C. Asia D. Africa