Which of the following would result in a higher real wage rate and a greater level of employment in the United States?
A) an increase in the supply of capital in the United States
B) more liberal U.S. immigration policies
C) an increase in the U.S. population
D) all of the above
A
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When cyclical unemployment is zero,
A) frictional unemployment is zero. B) cyclical and frictional unemployment are zero. C) structural unemployment is zero. D) the unemployment rate equals the natural unemployment rate. E) the natural unemployment rate is zero.
The long-run equilibrium of monopolistic competition is characterized by
A) P = MC = ATC. B) P = MC > ATC. C) P = MR = MC. D) P = ATC > MC.
Indicate whether each of the following would be classified as employed, unemployed, underemployed, and/or not a member of the labor force: (a) a 15-year old student; (b) a convicted felon serving time in a federal prison; (c) a college student with a part-time job who is not interested in a full-time job; (d) a full-time homemaker who is not seeking work outside the home; (e) a worker temporarily away from the job due to illness; (f) a person with a law degree who is driving a taxi for a living; (g) a part-time worker seeking full-time work; (h) a discouraged worker who has discontinued his or her job search.
What will be an ideal response?
Two variables are positively correlated if:
A. they move in the same direction. B. they move in the opposite direction. C. their movements tend to be unrelated. D. one is simply a multiple of the other.