If people are made unemployed because of a fall in aggregate demand this is known as:
a) Frictional unemployment
b) Seasonal unemployment
c) Cyclical unemployment
d) Structural unemployment
Answer: c) Cyclical unemployment
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Assume that the supply curve for a commodity shifts to the right and the demand curve shifts to the left, both by the same degree. Then, in comparison to the initial equilibrium, the new equilibrium will be characterized by:
A) a lower price and quantity. B) a higher price and quantity. C) a lower price and the same quantity. D) a higher price and the same quantity.
Which of the following statements about "inside information" is FALSE?
A) It is information that is not available to the general public. B) It is illegal to knowingly use inside information when trading stocks. C) Profits can be made using inside information. D) The government never imposes fines or other penalties for abuse of inside information.