When people become unemployed because of a higher minimum wage, this type of unemployment is called
a. frictional.
b. structural.
c. cyclical.
d. abnormal.
B
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In Macronesia, the MPC is approximately .80 . If disposable income changes from 1,000 billion pukas to 1,500 billion pukas, then consumption will change by a(n)
a. decrease of 500 billion pukas. b. increase of 500 billion pukas. c. increase of 400 billion pukas. d. increase of 800 billion pukas.
Assume hamburgers and french fries are complements. A decrease in the price of french fries will cause a movement from
A) Point A to Point B.
B) Point G to Point F.
C) D1 to D2.
D) S2 to S1.
Applying for a loan in five-person groups is an example of:
A. trade-off. B. group responsibility. C. party of five lending. D. family and friends lending.
What did Adam Smith mean by the phrase "a commercial society"?
What will be an ideal response?