At the unemployment rate consistent with full employment there is only:
A. demand-deficient unemployment.
B. cyclical and frictional unemployment.
C. frictional and structural unemployment.
D. cyclical unemployment.
Answer: C
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The production possibilities curve shows that:
a. some of one good must be given up to get more of another good in an economy that is operating efficiently. b. no output combination is impossible. c. an economy that is operating efficiently can have more of one good without giving up some of another good. d. scarcity can be eliminated.
Tax distortions happen because tax laws take into consideration only:
A. nominal income. B. nominal output. C. real income. D. real output.
How many countries are in the Euro area?
A) 19 B) 27 C) 21 D) 11
Five million people working in the manufacturing sector in the United States have lost their jobs between 2000 and 2015, but as of 2013 affiliates of foreign multinationals employed more than 6 million workers in the United States.
Answer the following statement true (T) or false (F)