Suppose there are two parallel highways between two cities with approximately equal traffic. What would you expect to happen if the state began charging tolls to drive on one of those highways?
A. Traffic would decrease on both roads.
B. More drivers would drive on the non-toll road, making the toll road less congested.
C. More drivers would drive on the toll road making the non-toll road less congested.
D. Traffic would remain evenly divided between the two roads as drivers continuously sought the less-congested route.
Answer: B
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In one possible scenario for the future, the United States would continue to decline in power, but China would not rise up enough to dominate. This would likely lead to
a. bipolarity. b. anarchy. c. multipolarity. d. theocracy.
Suppose the Okun's law coefficient is 2, the full-employment level of output is $5000 billion, and the natural rate of unemployment is 6%
(a) What is the current level of output if the current unemployment rate is 8%? (b) Suppose the unemployment rate falls to 5%; what is the current level of output? (c) Suppose structural changes in the economy raise the natural rate of unemployment to 7%, and lower the full-employment level of output to $4800 billion. If the current unemployment rate is 8%, what is the current level of output?