The recognition time lag is the time that elapses between
A) when an economic problem manifests itself and it is officially acknowledged.
B) the recognition of an economic problem and implementing policies to solve it.
C) implementing policies to solve an economic problem and when the results of that policy can be measured.
D) the beginning of the budgetary process and the final budget resolution.
A
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The highest unemployment rate recorded since World War II came in ________
A) September 1929 B) January 1961 C) December 1982 D) October 2009
Recently, consumption has comprised approximately
A) one-half of GDP. B) two-thirds of GDP. C) three-fourths of GDP. D) four-fifths of GDP.
A monopolist union that desired to maximize its total wage bill ( ) would offer that quantity of labor for which
a. labor's marginal productivity is zero. b. labor's wage falls to zero. c. the quantity of labor hired is as great as possible given the firm's demand curve. d. the marginal revenue from providing one more worker to the market is zero.
Suppose a wallet firm has been dumping its wastes into the local river. The government finds out and insists that the firm pay for the cost of the river cleanup. As a result, we can expect:
A. more wallets to be produced at a lower price. B. more wallets to be produced at a higher price. C. fewer wallets to be produced at a lower price. D. fewer wallets to be produced at a higher price.