Susie has lost her job in a Vermont textile plant because of import competition. She intends to take a short course in electronics and move to Oregon, where she anticipates that a new job will be available. We can say that Susie is faced with:
A. structural unemployment.
B. frictional unemployment.
C. cyclical unemployment.
D. secular unemployment.
Answer: A
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In the Keynesian framework, as long as output is above the equilibrium level, unplanned inventory investment will remain ________ and firms will continue to ________ production
A) negative; lower B) negative; raise C) positive; lower D) positive; raise
A Nash equilibrium is
A. the same as a dominant strategy. B. is the outcome where a player has selected her best strategy, given the choices of the other players. C. occurs in a game when a cartel solution is reached. D. occurs when one player can change her strategy and be better off.
At equilibrium, if quantity supplied is 16, quantity demanded
A. is less than 16. B. is 16. C. is more than 16. D. cannot be found without more information.
If the government wishes to maintain a balanced budget during a recession, it must
A. increase taxes, decrease transfer payments, and/or decrease government spending. B. decrease taxes, decrease government spending, and/or decrease transfer payments. C. decrease taxes, increase transfer payments, and/or decrease government spending. D. increase taxes, increase government spending, and/or increase transfer payments.