Estimates for the ________ rate of unemployment that routinely occurs in the United States range from 4 to 6 percent.
A. structural
B. cyclical
C. frictional
D. natural
Answer: D
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In an open economy with a given level of real interest rates and risk, an increase in real interest rates abroad will ________ capital inflows and ________ the equilibrium domestic real interest rate.
A. increase; decrease B. increase; increase C. decrease; increase D. decrease; decrease
Monetarists and Keynesians agree that expectations are
a. backwards-looking. b. rational. c. unstable. d. forwards-looking.
You own an ice cream store and are concerned that an employee may be giving generous scoops to friends and relatives and smaller scoops to some other customers. This may be reducing sales. In this example, you are the
a. principal and the your employee is the agent. b. agent and the your employee is the principal. c. signaler and the your employee is the screener. d. screener and the owner of the coffee ship is the signaler.
Which of the following is not an example of derived demand?
a. Increased demand for corn when cornflakes become more popular. b. Increased demand for iTunes music when sales of iPods increase. c. Increased demand for hybrid automobiles when gas prices rise. d. Decreased demand for movie tickets when ticket prices rise.