By itself, an increase in exports
A) increases GDP.
B) decreases GDP.
C) means imports decrease by the same amount.
D) can either increase or decrease GDP, depending on whether the exports are durable or nondurable.
A
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Which of the following is not a characteristic of the monopolistic competition market structure?
a. Many sellers, each small in size relative to the overall market. b. Few sellers. c. Differentiated product. d. Easy, low-cost entry and exit.
The best example of a frictionally unemployed worker is one who: a. has been looking for work for 27 weeks or longer
b. is laid off during a recessionary period in the economy. c. is in the process of voluntarily switching jobs. d. is discouraged and not actively seeking work. e. cannot find a job that matches with his skills.