The term full employment implies an unemployment rate of:
a. zero
b. approximately 5%
c. approximately 10%
d. 100%
b
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The various ways that vertical relationships can evade regulation include
a. tying the sale of a regulated good to a customer's choice of an unregulated good b. bundling regulated and unregulated goods c. preventing the exclusion of rival unregulated goods d. insuring tax rates are uniform across jurisdictions
Why might well-educated economists disagree on appropriate public policy in some situations?
A monopolistic competitor that earns profits in the current period is likely to expect: a. a loss in the future due to diseconomies of scale
b. the entry of firms with similar yet differentiated products in the long run. c. higher profits in the future due to barriers to entry. d. entry of new firms with identical products.
Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________, 
A. Rising; B; C B. Falling; A; C C. Falling; A; B D. Rising; A; C