Which of the following is correct?
a. In the U.S. the natural rate of unemployment is frequently near 2%.
b. The natural rate of unemployment fluctuates more than the cyclical rate of unemployment.
c. The cyclical rate of unemployment is sometimes below the natural rate of unemployment.
d. None of the above is correct.
c
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In the oil tanker industry, large companies have lower risk and are able to optimize vessel utilization. If consolidation allows companies to lower their long-run average total costs, this is an example of:
a. the opportunity costs of mergers. b. the increase in utility of managers by being able to control larger companies. c. the dangers of oil tankers to the environment. d. the economies of scale in the oil tanker industry. e. the law of diminishing returns.
Competition for the currently available supply of locations and space coupled with the existing supply of leasable space, determines:
A. the current level of rental rates for each submarket and property B. the riskiness of the expected cash flows of an income-producing property C. the timing of the expected cash flows of an income-producing property D. the cost of financing the purchase of a property
Countries that restrict foreign trade are likely to
a. forgo the additional surplus that trade allows, but will probably enjoy economies of scale. b. forgo the additional surplus that trade allows, but will be compensated by a higher rate of technological change. c. forgo the additional surplus that trade allows, but will have a lower rate of unemployment. d. have more firms with domestic market power.
The difference between ________ is known as the trade balance
A) consumption and imports B) investment and consumption C) exports and imports D) production and exports