Unemployment is a:
A. lagging indicator, because the business cycle follows it.
B. lagging indicator, because it follows the business cycle.
C. leading indicator, because the business cycle follows it.
D. leading indicator, because it follows the business cycle.
Answer: B
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All else constant, as more firms substitute alternative materials, e.g., plastic, for copper, the market price of copper would be expected to:
A) increase. B) stay the same. C) decrease. D) cannot be determined with the information given.
Unlike developed countries, people in under-developed countries usually haggle over the prices of everyday items because:
a. the cost of production is low. b. the products are in general of poor quality. c. of the differences in the opportunity cost of time. d. adequate substitutes are available.