If the natural unemployment rate is 5.5 percent, then the economy is at long-run equilibrium when the actual unemployment rate is
A) more than 5.5 percent.
B) between 0 and 5.5 percent.
C) 0 percent.
D) 5.5 percent.
E) none of the above
D
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A tax may be used as a corrective device in the case of a negative externality because it will __________ marginal private costs and __________ supply.
A. increase; decrease B. increase; increase C. decrease; decrease D. decrease; increase
Suppose the supply of Malaysian rubber increases. If U.S. producers purchase this rubber as an input, in the United States, this would cause a
A) rightward shift of the AD curve. B) leftward shift of the AD curve. C) rightward shift of the SRAS curve. D) leftward shift of the SRAS curve.
Joe runs a business and needs to decide how many hours to stay open. Figure 2.2 illustrates his marginal benefit of staying open for each additional hour. Suppose that Joe's marginal cost of staying open per hour is $32. How many hours should Joe stay open?
A. 4 hours B. 5 hours C. 6 hours D. 7 hours
Refer to the information provided in Table 21.5 below to answer the question(s) that follow. Table 21.5
Refer to Table 21.5. The value of government spending in billions of dollars is
A. 100. B. 250. C. 350. D. 450.