The business cycle reflects both short-run fluctuations in output and long-run economic growth.
Answer: True
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The natural unemployment rate is higher if
A) many of the new jobs created require skills possessed by the available labor. B) there are fewer two-income households. C) unemployment benefits become more generous. D) efficiency wages are lower. E) there is a decrease in the working-age population.
Figure 5-14
Martha initially buys the combination of pens and pencils shown as A in Figure 5-14. After the prices of both goods change, she buys combination B. It must be true that
A. Martha prefers A to B. B. Martha prefers B to A. C. Martha is indifferent between A and B. D. Martha’s preferences between A and B cannot be determined from the information given.
In the open-economy macroeconomic model, net exports equal the quantity of dollars demanded in the market for foreign currency exchange
a. True b. False Indicate whether the statement is true or false
Under an upward sloping supply curve for land, the economic rents to land ________ as the demand for land shifts rightward
A) decrease B) increase C) remain the same D) We do not have enough information to answer this question.