Frictional and structural unemployment both exist when
A) the economy is at the peak of the business cycle. B) the economy is in long-run equilibrium.
C) the economy is in an expansionary phase. D) the economy is in short-run equilibrium.
B
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The unemployment rate tends to be higher in the European Union as compared to the United States
Indicate whether the statement is true or false
Which of the following is considered to be a cost of information?
a. The price of the commodity for which information is collected. b. The time spent to collect the information. c. The difference in price charged by different sellers for the same commodity. d. The difference in price paid by different buyers for the same commodity.
Coordination failure is a situation in which workers and employers fail to achieve an outcome that all would prefer
Indicate whether the statement is true or false
Which of the following illustrates a macroeconomic question?
A. Should the salaries of financial executives be regulated by the government? B. Are increasing wage demands by workers contributing to price inflation? C. What is the least costly way to produce automobiles and trucks in the United States? D. Will the introduction of a new computer chip change the demand for computers?