When growth goes down, unemployment tends to go:
A. down at the same time, and vice versa.
B. up at the same time, but remains sticky on the way down and lags behind.
C. down shortly after, and vice versa.
D. up shortly after, and vice versa.
Answer: D
Economics
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Refer to Figure 12-11. Suppose the prevailing price is $20 and the firm is currently producing 1,350 units. In the long-run equilibrium, the firm represented in the diagram
A) will continue to produce the same quantity. B) will reduce its output to 750 units. C) will reduce its output to 1,100 units. D) will cease to exist.
Economics
If a tax is proportional, the average tax rate
A. remains the same as income rises. B. rises as income rises. C. falls as income rises. D. falls as income falls.
Economics