Predatory dumping is a common problem in the United States
Indicate whether the statement is true or false
FALSE
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The principle of voluntary exchange is the concept that a voluntary exchange between two people makes both people better off
Indicate whether the statement is true or false
In an economic expansion, people used their charge cards to purchase many goods. Now the economy is in a recession and people must use much of their reduced incomes to pay back debts. If employees manufacturing the goods people used to buy are laid off, they will suffer from:
a. cyclical unemployment. b. structural unemployment. c. permanent unemployment. d. frictional unemployment. e. underemployment.
A policymaker against stabilizing the economy would be likely to believe
a. policymakers should "do no harm". b. there are no obstacles to the practical application of policy in real life. c. policy lags are short enough that implementing policy changes in response to recession is not too risky. d. policy mitigates the magnitude of economic fluctuations.
A rational consumer maximizes his or her:
A. wealth. B. total utility. C. marginal utility. D. profit.