Goals which are concerned with creating and maintaining employee and customer satisfaction and social responsibility are referred to as ________ objectives
A) social
B) noneconomic
C) welfare
D) public relations
B
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Suppose the measured unemployment rate is 4.5% and the true natural rate of unemployment is 5.1%. What should policymakers do in this situation? Suppose that the chair of the Federal Reserve believes the natural rate of unemployment to be 4.0%
What will the chair of the Fed do in this situation, and will this be a good decision?
A consumer's willingness to pay:
A. is the maximum price that a buyer would be willing to pay for a good or service. B. is the minimum price that a buyer would be willing to pay for a good or service. C. is his or her reserved minimum bid-price. D. must always equal the seller's willingness to sell.
The unemployment rate is supposed to measure ________. It is an imperfect measure because ________.
A) the percentage of the working-age population who are unemployed; it is impossible to count everyone in the working-age population B) the underutilization of labour resources; it excludes some underutilized labour and some unemployment is unavoidable C) the percentage of the labour force who are unemployed; it is impossible to count everyone in the labour force D) the number of unemployed plus the number of marginally attached workers expressed as a percentage of the labour force; it excludes the marginally attached workers because Statistics Canada considers them as employed E) the underutilization of labour resources; it includes part-time workers and excludes discouraged workers
Economists sometimes refer to the resource category land as natural resources
Indicate whether the statement is true or false