Which statement CORRRECTLY describes "structural unemployment"?
A) Structural unemployment occurs mainly during recessions.
B) Structural unemployment is also called "frictional unemployment."
C) Structural unemployment occurs even when the economy is at the natural unemployment rate.
D) The amount of structural unemployment depends on normal labor turnover.
C
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
A tax imposed by a government on imports of a good into a country is called
A) a tariff. B) an import fine. C) an import levy. D) an import quota.
Elasticity measures how responsive quantity is to changes in price
a. True b. False Indicate whether the statement is true or false
When we compare the graphs for an increase in aggregate demand and the Phillips curve, we see that ______.
a. the impact of inflation on RGDP varies depending on which approach is used
b. neither graph shows the relationship between inflation and unemployment rates
c. neither graph shows how price changes influence RDGP
d. both graphs show the same outcome in different ways