In an expansion, the cyclical rate of unemployment is often:
A. zero.
B. positive.
C. negative.
D. equal to the natural rate of unemployment.
Answer: C
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You are likely to learn about ________ in your macroeconomics class
A) the price elasticity of demand for a good B) the average revenue and cost curves of a firm C) the Law of Diminishing Marginal Utility D) the annual growth rate of an economy's output
Which of the following statements regarding the production possibilities frontier is TRUE?
A) Points outside the frontier are attainable. B) Points inside the frontier are attainable. C) Points on the frontier are less efficient than points inside the frontier. D) None of the above because all of the above statements are false.
An example of physical capital is:
A. a tractor. B. a farmer. C. a high-yield seed varietal. D. All of these are examples of physical capital.
Suppose that a federal election is coming soon and the government has been running persistent large budget deficits. Constitutional economists would most likely urge ___________________ in order to eliminate future budget deficits
A) voters to vote for liberal candidates B) voters to vote for conservative candidates C) Congress to pass a law constraining them to spend no more than what they are receiving in tax revenues D) Congress to remove all constraints on spending and taxes.