Answered: Suppose people decide to buy fewer GE…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Question

100%

1. Suppose people decide to buy fewer GE stoves. If General Electric reduces the number of its employees to reduce its costs but no other stove company does so, which type of unemployment results? Group of answer choices

a).discouraged

b).structural

c).frictional

d).cyclical

2. During the Great Depression of the 1930s when the unemployment rate was exceptionally high due to the Great Depression, the government had employment programs, such as the Civilian Conservation Corps, which built campsites and planted trees. These programs were aimed at reducing which type of unemployment?

a). frictional

b). avoidable

c). structural

d). discouraged

e). cyclical

3. Suppose that Apple computer buys computer components for $10,000 and uses them to make ipods that they sell to Best Buy for $30,000. Best Buy sells these ipods for $32,000. As a result, GDP has risen by?

Expert Solution