Reference no: EM13796453
1] When the unemployment rate is_____ than the natural unemployment rate, real GDP _______.
A) less; exceeds potential GDP
B) Greater; is increasing
C) less, is decreasing
D) great; Exceeds potential GDP
2] The U.S. Unemployment rate _____.
A) is calculated as the percentage of the labor force who are unemployed or who are working part time and would like full time work.
B) increases in recessions
C) Shows a downward trend
D) is calculated as the percentage of the labor force who are unemployed or discouraged
3] At a business cycle trough, cyclical unemployment is ____ and at a business cycle peak, cyclical unemployment is _____.
A) postive; negative
B) zero; low
C) high; zero
D) negative; positive
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Receive less total revenue from the sale of gasoline
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What quantity does each firm produce
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How much will the leader firm produce
: Two firms are competing for output. The leader firm knows the market demand to be P=1200-Q with the follower firm demand Q2=400-0.5Q1. Both marginal costs is $200. How much will the leader firm produce?
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When cyclical unemployment increases and other things remain
: When cyclical unemployment increases and other things remain the same, ______. The U.S. labor force participation rate ______.Withdrawals move from employed to not in the labor force. people who voluntarily quit their jobs are colled job leavers.
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Business cycle trough-cyclical unemployment
: When the unemployment rate is_____ than the natural unemployment rate, real GDP _______. At a business cycle trough, cyclical unemployment is ____ and at a business cycle peak, cyclical unemployment is _____.
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What is the market-clearing price for the monopolist
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Statistical demand equations for estimating consumer demand
: What warnings with you give forecasters in using statistical demand equations for estimating consumer demand? How can the problems associated with using static equations in a dynamic world best be dealt with? Elaborate
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Equation for the firms short run supply schedule
: The Short Run total cost curve of a firm in a hypothetical market is given by. What is the shut down price? What is the break-even point of the firm? What is the equation for the firm’s short run supply schedule?
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State whether demand is elastic-unit elastic or inelastic
: If price lowered from $10 to $8 and quantity demanded rose from 50 to 51, calculate elasticity; state whether demand is elastic, unit elastic or inelastic and find out how much total revenue was when the price was $10 and $8.
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