The North Korean economy is currently classified as:
A) a mixed economy.
B) market capitalism.
C) command socialism.
D) the same kind of economy as Sweden.
Ans: C) command socialism.
Economics
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Kirk consumes normal goods. If Kirk's income decreases and the prices of all goods remain unchanged, in his new consumer equilibrium, his marginal utility from each good will ________ and his total utility will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
Economics
When unemployment rises above the natural rate it reflects the existence of ____ unemployment
a. frictional b. structural c. seasonal d. cyclical
Economics