The most basic cause of unemployment in the United States is that
A) the natural rate of unemployment is much higher than zero.
B) we are most of the time producing a real GDP below the natural real GDP.
C) we are suffering from low productivity growth.
D) we are converting from a predominantly industrial to a predominantly service-based economy.
E) policymakers are constantly trying to hold down inflation.
A
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As shown in the figure above, the rent ceiling ________ consumer surplus and ________ producer surplus
A) decreases; decreases B) decreases; increases C) increases; increases D) increases; decreases E) decreases; does not change
Four points on a demand schedule are given: $12, 2 units; $10, 3 unit; $15, 5 units; and $2, 4 units. Which combination is inconsistent with the law of demand?
A) $12 and 2 units B) $10 and 3 unit C) $15 and 5 units D) $2 and 4 units