Unemployment is a
A. both a flow and a stock concept.
B. stock concept.
C. neither a stock nor a flow concept.
D. flow concept.
Answer: B
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The opportunity costs of land is largely determined by
A) need. B) real estate agents. C) demand. D) government.
Refer to the following graph.
If this graph represents the supply of and demand for an imported product, a tariff of t will result in revenue for the government shown by area:
A. BOEH. B. ACIJ. C. BDGH. D. DOEG.
A person starts his own business after quitting his job in which he made $75,000. Expenses include $100,000 for wages and salaries, which includes a wage for the owner of $75,000, utilities of $5000, equipment of $50,000, and materials of $40,000
If revenues are $200,000, his accounting and economic profits are respectively A) $80,000 and $5000. B) -$70,000 and -$70,000. C) -$70,000 and $5000. D) $5000 and $5000.
The Federal Reserve increases the federal funds rate. The resulting economic change will be represented by a(n): a. upward movement along the short-run Phillips curve. b. downward movement along the short-run Phillips curve. c. rightward shift of the short-run Phillips curve
d. leftward shift of the short-run Phillips curve.