The official dating of recessions in the United States is the responsibility of the:
a. Bureau of Labor Statistics (BLS).
b. Internal Revenue Service (IRS).
c. Federal Reserve.
d. Congress.
e. National Bureau of Economic Research (NBER).
e
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The Spa DuJour Salon faces a downward-sloping demand curve for haircuts and hires stylists in a competitive labor market. How will each of the following affect the short-run demand for stylists at Armadillo?
(i) A new competitor, the Jake the Barber, opens for business directly across the street from Spa DuJour. (ii) The cost of Spa DuJour's annual licensing fee increases from $50 to $200; fortunately the increase is not large enough to drive Spa DuJour out of business. (iii) Spa DuJour expands its facilities to include two new styling bays.
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Linder's hypothesis says that countries with ________ of preferences will trade intensively with each other
A) differences B) utility C) similarity D) elasticity
It is easy to sign contracts for gym membership, but if one rarely goes to the gym a gap exists between _______ and behavior
a. Resources b. Values (hope) c. Attitudes d. Ethics