The classical view of the labor market holds that unemployment in the economy consists of frictional and structural unemployment.
Answer the following statement true (T) or false (F)
True
Economics
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What role do households play in output markets? What role do households play in factor markets?
What will be an ideal response?
Economics
The poverty line is updated each year for rising prices but not for increasing standards of living
Indicate whether the statement is true or false
Economics
If you are told that in a given year the real growth rate is 7% with inflation and population growth rates of 2% and 1.2% respectively, then nominal growth rate of GDP per capita is:
A. 3.8%. B. 5.0 %. C. 5.8%. D. 7.0 %.
Economics
Considering perfect competition, monopolistic competition, and monopoly, which of the market structures results in production of the welfare-maximizing level of output?
Economics