The rate of inflation tends to remain constant when
A) the unemployment rate is above the NAIRU.
B) the unemployment rate equals the NAIRU.
C) the unemployment rate is below the NAIRU.
D) the unemployment rate increases faster than the NAIRU increases.
B
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Economists use the term capital to describe that factor of production that includes human-made resources such as factories, buildings, machinery, and tools.
Answer the following statement true (T) or false (F)
Which of the following groups of people will NOT be considered as employed?
A) Government representatives earning a fixed salary every month B) Housewives raising kids at home C) Paid workers in the agricultural sector of a country D) Teachers in public schools
The United States
A) has never had a significant problem with corruption. B) currently is one of the most corrupt countries. C) currently ranks among the least corrupt countries. D) had a significant problem with corruption in the 1930s.
For the simple case of a production function with two inputs in which the inputs are perfect complements, each isoquant is represented by:
A) a vertical line. B) a horizontal line C) a downward sloping straight line. D) a line that forms a right angle.