Positive expected profits:
A. increase product demand.
B. discourage people from supplying goods.
C. encourage people to supply goods.
D. have no effect on supply decisions.
Answer: C
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Fiscal policy includes all of the following EXCEPT
A) policies that influence the rate of growth of the quantity of money in circulation. B) changing taxes. C) changing government spending. D) policies that influence aggregate demand.
GDP is the total market value of all final goods and services produced in a given time period within a nation's borders.
Answer the following statement true (T) or false (F)
The ________ in unemployment that occurs during recessions and depressions is called ________ unemployment.
A. increase; natural B. increase; frictional C. increase; cyclical D. decrease; structural
The price of gasoline is generally higher in Hawaii than in the continental United States. Therefore, the Hawaiian legislature passed a law forbidding gas stations from charging a price higher than the average price of gas on the West Coast of the United States. This is an example of:
A. a price ceiling. B. a price floor. C. a quota. D. a tax.