The process of moving from disequilibrium to equilibrium in labor markets creates special problems because
a. we are all workers threatened by recession
b. we cannot spend money we have not earned
c. the process is very short
d. the process is especially lengthy
e. negative shocks create economic expansions
D
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In 1963, government economists assumed that the MPC for the United States was approximately 0.90. If taxes were cut by $9 billion, then consumer expenditures would initially be expected to
A. decrease by $9.0 billion. B. increase by $9.0 billion. C. decrease by $8.1 billion. D. increase by $8.1 billion.
Which of the following is true of economic expansions?
A) Economic expansions are defined as the period between recessions. B) Consumption increases but investment falls during periods of economic expansion. C) Output grows during periods of economic expansion, but the unemployment rate is also high. D) Governments can correctly predict the length of periods of economic expansion.
If cheese spreads and butter are substitutes, an increase in the price of butter will:
a. shift the demand curve for cheese spreads upward. b. shift the demand curve for cheese spreads downward. c. shift the demand curve for butter upwards. d. shift the demand curve for butter downward.
I frequently buy something which then has a rebate offer attached. I must fill in all the information requested, send off the form and then wait 8 weeks for the rebate. This practice is referred to as
A. a profit maximizing markup. B. network economics. C. exclusive contracting. D. the hurdle model of price discrimination.