Workers who lose their jobs because of a recession are experiencing
What will be an ideal response?
cyclical
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The value of unpaid childcare services provided by a stay-at-home dad ________ included in GDP; the value of daycare services purchased from a licensed childcare provider ________ included in GDP.
A. is; is B. is not; is C. is; is not D. is not; is not
A firm should shut down in the short run if the price is less than the:
A) average fixed cost. B) average total cost. C) average variable cost. D) marginal cost.
Monopolies are socially inefficient because the price they charge is
a. equal to marginal revenue. b. above marginal cost. c. equal to demand. d. above demand.
The actual multiplier effect in the U.S. economy is less than the multiplier effect in the text examples because:
A. the real-world MPS is larger than the MPS in the examples. B. in addition to saving, households use some of any increase in income to buy imported goods and to pay additional taxes. C. the gap between the nominal interest rate and the real interest rate widens as the economy expands or contracts. D. the MPC in the United States is greater than 1.