Contractual inflexibility is most likely to slow price adjustment in the
A) money market.
B) capital market.
C) real estate market.
D) labor market.
D
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Suppose that in an economy the structural unemployment rate is 2.2 percent, the natural unemployment rate is 5.3 percent, and the cyclical unemployment rate is 2 percent. The frictional unemployment rate is _________ percent and the actual unemployment rate (in this economy) is ___________ percent.
a. 7.5; 3.3 b. 4.2; 11.7 c. 7.3; 3.1 d. 3.1; 7.3
Refer to the following model.
yt = 
0 + 
0st + 1st-1 + 2st-2 + 3st-3 + ut
0+ 1+ 2+ 3 represents:
A. the short-run change in y given a temporary increase in s.
B. the short-run change in y given a permanent increase in s.
C. the long-run change in y given a permanent increase in s.
D. the long-run change in y given a temporary increase in s.
If, in a closed economy, real GDP is $30 billion, consumption is $20 billion, and government purchases are $5 billion, what is total saving in the economy?
A) $5 billion B) $15 billion C) $45 billion D) $55 billion
Which is not one of the Five Fundamental Questions?
A) How will the goods and services be produced? B) Who will get the goods and services? C) How will the system accommodate change? D)What goods and services should be produced by government?