When there is an increase in the duration of unemployment, the U.S. Congress typically responds by
A) lowering income taxes.
B) extending unemployment benefits.
C) encouraging unemployed U.S. workers to seek employment overseas.
D) redefining "unemployed" so the unemployment rate does not look so bad.
B
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A utility-maximizing consumer would not consume more of a good if
a. marginal utility increases as more is consumed b. total utility diminishes as more is consumed c. MU/P < 1 d. MU/P < 1 e. MU/P = 1
In a mixed strategy:
A. moves can be predicted. B. the order of who chooses first is mixed. C. players try to avoid demonstrating a pattern. D. the payoffs are mixed during each round.
PriceQuantity Demanded$4300$3400$2500$1600Refer to the above data. What is the elasticity of demand between the prices of $3 and $2?
A. 0.22 B. 0.56 C. 1.22 D. 0.40
Refer to the table. If the amounts of GDP supplied at the price levels shown (in descending order) are $45, $43, $40, $37, and $31, the equilibrium level of real GDP will be:
Answer the question on the basis of the following table for a particular country in which C is
consumption expenditures, I g is gross investment expenditures, G is government expenditures,
X is exports, and M is imports. All figures are in billions of dollars. Each question is
independent of other question using the same table, unless otherwise stated.
A. $37 billion.
B. $35 billion.
C. $26 billion.
D. $43 billion.