In a recession, cyclical unemployment:
A. exceeds the natural rate of unemployment.
B. is falling.
C. is rising.
D. equals the natural rate of unemployment.
Answer: C
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If a tax of $1 a can is imposed on the buyers of sugary drinks, the demand for sugary drinks ______ and the price that buyers pay ______
A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can
The Lerner Index is derived from the profit-maximizing condition of a firm
Indicate whether the statement is true or false
What method of inventory valuation should be used for economic decision-making problems?
a. book value b. original cost c. current replacement cost d. cost or market, whichever is lower e. historical cost
When foreign aid is tied to purchases of low-priced food from the donor country, farm prices can drop in the developing countries, hurting poor farmers
a. True b. False