Which of the following would be an example of an unemployed resource?
a. John has been laid off from his job as an auto mechanic.
b. Betty, a computer specialist, takes a job as a hotel maid.
c. Mary, a senior citizen, receives a social security check.
d. Sam, 10 years old, is in the fifth grade.
e. a 10-year-old computer is now only used as a word processor.
A
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What is meant by full employment? Why isn't the full employment rate zero? What causes frictional unemployment?
What will be an ideal response?
If the marginal propensity to consume (MPC) is 0.80, the value of the spending multiplier is 2
a. True b. False Indicate whether the statement is true or false
The NAIRU is a key indicator of how
A. much the economy can slow down without a recession. B. much structural unemployment the economy can sustain. C. unemployment trends occur. D. much faster the economy can grow without pushing up inflation.
Refer to the information provided in Figure 33.3 below to answer the question(s) that follow.
Figure 33.3Refer to Figure 33.3. The domestic price of shoes is $80. After trade the price of a pair of shoes is $60. Now domestic production costs fall so that the equilibrium domestic price of a pair of shoes is $70. This would cause
A. the number of pairs of shoes imported into this country to increase. B. the number of pairs of shoes exported from this country to increase. C. the number of pairs of shoes exported from this country to decrease. D. the number of pairs of shoes imported into this country to decrease.