The economic effects of a recession are likely to have the smallest impact on the sales of which of the following businesses?
A) an automobile manufacturer
B) a furniture store
C) a fast-food restaurant
D) a home builder
Answer: C
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The table above gives data for the nation of Mosh. If we graphed these data, we would see that when GDP equals
A) $10 trillion, the AE curve intersects the 45° line. B) $9 trillion, the AE curve intersects the 45° line. C) $6 trillion, the AE curve is below the 45° line. D) $10 trillion, the 45° line is above the AE curve. E) $4 trillion, the AE curve intersects the 45° line.
The difference between a change in quantity demanded and a change in demand is that a change in:
a. quantity demanded is caused by a change in a good's own current price, while a change in demand is caused by a change in some other variable, such as income, tastes, or expectations. b. demand is caused by a change in a good's own current price, while a change in quantity demanded is caused by a change in some other variable, such as income, tastes, or expectations. c. quantity demanded is a change in the amount people actually buy, while a change in demand is a change in the amount they want to buy. d. A change in demand and a change in quantity demanded are the same thing.
Data on the unemployment rate in the U.S. since 1960 show that the unemployment rate is
a. always zero. b. sometimes zero. c. rarely zero. d. never zero.
Which of the following does not necessarily violate antitrust laws?
A. Deceptive advertising B. Price discrimination C. Price fixing D. Interlocking directorates