Sirius has just finished high school and started looking for his first job, but has not yet found one. Other things the same, the unemployment rate
a. and the labor-force participation rate both increase.
b. increases, and the labor-force participation rate is unaffected.
c. is unaffected, and the labor-force participation rate increases.
d. and the labor-force participation rate are both unaffected.
a
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A monopolistically competitive firm has a
A. highly elastic demand curve. B. highly inelastic demand curve. C. perfectly elastic demand curve. D. perfectly inelastic demand curve.
An appreciation of the U.S. dollar makes foreign goods cheaper relative to American goods, resulting in a ________ in net exports in the U.S. and a ________ shift of the IS curve in the U.S., everything else held constant
A) fall; leftward B) rise; leftward C) fall; rightward D) rise; rightward
A determinant of the supply of loanable funds is:
A. investors' confidence. B. expected profit on an investment. C. current economic conditions. D. All of these are determinants of the supply of loanable funds.
Critics of advertising sometimes argue that the overall effect of advertising is to make people believe that possessing lots of material goods is the only route to happiness. These critics also believe that this is a misleading view of happiness. Hence, these critics:
A. worry that consumers' choices have positive externalities. B. worry that the resulting increase in consumption increases total utility. C. reject the idea that all is well if the economy produces what people demand. D. believe that distributional issues are the main problem with any economy.