In the classical model, we include unintended inventory changes
a. True
b. False
B
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Suppose Canada has a population of 30 million people, and a labor force participation rate of 2/3. Furthermore, suppose the natural rate of unemployment in Canada is 7%. If the current number of unemployed people is 1 million people, what can we conclude about Canada's economy?
A. There is no frictional unemployment present in the economy. B. The unemployment rate is below the natural rate of unemployment. C. There is cyclical unemployment present in the economy. D. The unemployment rate is above the natural rate of unemployment.
Without drawing a graph explain what probably happened to the production possibility frontier during the Black Plague
What will be an ideal response?
Under a fixed exchange rate regime, if the domestic currency is initially ________, that is, ________ par, the central bank must intervene to purchase the domestic currency by selling foreign assets
A) overvalued; below B) overvalued; above C) undervalued; below D) undervalued; above
Which of the following is true of a perfectly competitive firm?
a. It can exert slight control over the market price of its output. b. It can exert significant control over the market price of its output. c. It can exert no control over the market price of its output. d. It can work with competitors to exert control over the market price of its output.