Question 1 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which model shows households supplying factors of production and firms supplying goods & services? A. Circular-flow model B. Crowding-out effect C. Comparative-advantage theory D. Production-possibilities curve Submit Answer
Question 2 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Capitalist societies chiefly rely on which mechanism to allocate resources? A. Government B. Entrepreneurs only C. Consumers only D. Market forces Submit Answer
Question 3 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Italy has comparative advantage in wine, Greece in olives. We may conclude: A. Greek olive workers are more productive B. Greece devotes more resources to olives C. Italian winemakers are more productive D. Slopes of PPCs cannot be identical Submit Answer
Question 4 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Which unemployment type results from technological change? A. Frictional B. Cyclical C. Seasonal D. Structural Submit Answer
Question 5 of 5 Share Facebook Twitter LinkedIn WhatsApp Email Copy Link Who is cyclically unemployed? A. Jason returned to labor force after college B. Barbara took early retirement C. Clark lost job to outsourcing D. Larry lost job in housing slump Submit Answer