One reason for the fall in the natural rate of unemployment from 1980 to 2000 is
A) changes in the demographic composition of the work force.
B) the decline in inflation.
C) increased competition from foreign workers.
D) the depreciation of the dollar relative to foreign currencies.
A
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The above figure shows the market for rice in Japan where price is expressed in dollars. S represents the domestic supply curve, and the horizontal line at P = 1 represents the world supply curve. Suppose a free market exists
If a $1 per unit tariff is imposed on imported rice, the quantity of imported rice will decrease by A) Q1 units. B) Q2 - Q1 units. C) Q2 units. D) Q1 - Q2 units.
If the government sets a minimum wage which is more than the equilibrium wage, the firms tend to demand more labor
a. True b. False Indicate whether the statement is true or false
The latest Kanye West album is available to be downloaded for $11.99. Is this price a rationing device?
a. No, the album will be sold to anyone having the required number of dollars. b. Yes, many will not buy the album because they are unwilling to sacrifice other things $11.99 will buy. c. No, for price to be a rationing device, it must be so high that only one unit of the item is sold. d. Yes, since that is a reasonable price.
From the late 1990s through the first 3 or 4 years of this decade, _____ has been caught in a liquidity trap.
Fill in the blank(s) with the appropriate word(s).