In 1937-1938, the number of unemployed
A. fell dramatically by about 5 million.
B. fell slightly by about 1 million.
C. rose slightly by about 1 million.
D. rose dramatically by about 5 million.
D. rose dramatically by about 5 million.
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Use the figure below to answer the following question.
If actual production and consumption occur at Q1 and the price is P1
A. deadweight loss equals area b. B. producer surplus equals area c + b. C. consumer surplus equals area a + b. D. consumer surplus equals area a.
"Because resources are scarce, the production of more capital goods means that fewer resources are available to produce consumption goods, so there is less current consumption." Do you agree or disagree? Explain
What will be an ideal response?
Which of the following is a determinant of supply?
A. Number of buyers. B. The prices of the factors of production. C. Consumers' income. D. Consumer tastes or preferences.
The president of the Federal Reserve Bank of ________ is always a member of the FOMC.
A. Minneapolis B. Boston C. Washington, D.C. D. New York