At full employment the unemployment rate equals the
A) cyclical unemployment rate.
B) structural unemployment rate plus the frictional unemployment rate.
C) structural unemployment rate plus the cyclical unemployment rate.
D) structural unemployment rate.
B
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Most college professors are granted tenure after six years of employment. Tenure implies a lifetime appointment. What problem does this situation create, and how can colleges minimize the problem?
What will be an ideal response?
The high correlation between rapid growth in exports and rapid economic growth observed in several East Asia countries in recent decades
A) proves that export promoting trade policy leads to relatively rapid economic growth. B) proves that a free-trade orientation of trade policy results in rapid economic growth. C) proves that exports help growth, whereas imports impede growth. D) proves that trade policy is the most important policy area for promotion of economic development. E) does not prove that trade liberalization always leads to rapid economic growth.
During a recession, the political incentive structure will encourage politicians to
a. undertake sound economic policies that are consistent with stability and growth. b. adopt any policies, even bad ones, that give the appearance of taking action. c. undertake policies that promote long-term economic growth rather than short-term benefits. d. do nothing and let the recession run its course.
What time period in U.S. history do we generally recognize as the peak of labor union membership?
A. 1940s-1970s B. 1900s-1920s C. 1920s-1940s D. 1970s-2000s