When an economy produces its potential output, _____ is zero.
Fill in the blank(s) with the appropriate word(s).
cyclical unemployment
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To be counted as employed by the BLS, in the week before the survey the person must have worked for pay
A) at least 1 hour. B) at least 5 hours. C) more than 20 hours. D) 40 hours. E) None of the above is right because the BLS counts as employed anyone who works volunteer hours at a non-profit institution.
The free-rider problem may arise in case of ________
A) public goods B) private goods C) club goods D) inferior goods
Most surveyed economists support Fogel and Engerman's (1974) position that plantation owners were largely rational and treated slaves in their best profit interest
Indicate whether the statement is true or false
The economy of Carl’s country is growing at a rate of 1.75 percent per year. The economy of Miska’s country is growing at a rate of 3 percent per year. Approximately how much longer than Miska’s country will it take for the economy of Carl’s country to double?
a. 1.25 years b. 16.7 years c. 56 years d. 40 years