A country is said to be experiencing inflation when
A. total output is rising over time.
B. total output is falling over time.
C. prices of most goods and services are falling over time.
D. prices of most goods and services are rising over time.
Answer: D
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For-profit producers will produce only private goods because
A) buyers will be willing to pay for the goods since the benefits are excludable. B) all external benefits can be internalized using market prices. C) the cost of production can be easily determined. D) markets exist for private goods but not for public goods.
The reasons why someone cannot get a job are similar to the reasons why someone cannot get a date
Using the ideas of frictionally unemployed, structurally unemployed, and cyclically unemployed, describe and explain how a student at your university might be frictionally "undated," structurally "undated," and cyclically "undated."