Which of the following groups tends to have the highest unemployment rate in the United States?
a. African American teenagers
b. Workers, age 25 or older, who are college graduates
c. White women
d. Workers, 25 years of age or older, who are high school dropouts
e. White teenagers
a
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Refer to the figure above. What is the surplus enjoyed by the firm when it is the sole supplier of the medicine?
A) $30 B) $60 C) $90 D) $180
Which of the following conditions must hold in the equilibrium of a competitive market where the government puts a specific tax on consumers?
A) The quantity sold and the price paid by the buyer must lie on the demand curve. B) The quantity sold and the seller's price must lie on the supply curve. C) The quantity demanded must equal the quantity supplied. D) the difference between the price the buyer pays and the price the seller receives must equal the specific tax. E) all of the above
In Table 13-1, the Federal Reserve System has
a. sold $10 million in government securities to banks, taking payment in cash. b. sold $10 million in government securities to banks, taking payment from the bank's reserves. c. purchased $10 million in government securities from banks, paying for them with increases in banks' reserves. d. purchased $10 million in government securities from banks, paying for them with new Federal Reserve notes.
A sudden, unexpected increase in the economy’s prevailing wage level due to a general strike threat would
a) shift the aggregate demand curve out and push equilibrium prices down b) shift the aggregate demand curve in and push equilibrium output down c) shift the short run aggregate supply curve in and push equilibrium prices up d) shift the Phillips Curve in and increase the natural rate of unemployment e) shift the long run aggregate supply curve out and push equilibrium prices down