If the quantity of labor demanded and the quantity of labor supplied are brought into equilibrium by rising and falling wage rates, there should be no persistent unemployment and the unemployment rate should be zero.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Depositors lack of information about the quality of bank assets can lead to
A) bank panics. B) bank booms. C) sequencing. D) asset transformation.
A new U.S. import quota on imported steel would be likely to: a. reduce the cost of production to steel-using American firms. b. generate tax revenue to the government
c. increase U.S. production of steel. d. increase the production of steel-using American firms.
Which of the following does not appear in GDP as a part of government spending?
A. Maintenance of government buildings. B. City fireworks displays on the Fourth of July. C. Clipboards at the Department of Motor Vehicles. D. Social Security payments.
Frictional unemployment refers to:
A. people who are out of work and have no job skills. B. short periods of unemployment needed to match jobs and job seekers. C. people who spend relatively long periods out of work. D. unemployment related to the ups and downs of the business cycle.