When individuals are unemployed because they lack the qualifications to fill available jobs, this is called
a. frictional unemployment.
b. natural unemployment.
c. cyclical unemployment.
d. structural unemployment.
D
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If there is a shortage in the market for jeans,
a. producers' inventories will increase b. the price should begin to rise c. the demand curve will shift to restore equilibrium in the market d. the supply curve will shift to restore equilibrium in the market e. producers expect government to impose a price ceiling
A movement along the AD curve down and to the right is caused by
a. a rightward shift of the money demand curve b. falling consumer confidence c. a decreasing price level d. expansionary open market transactions by the Fed e. a stable price level and increases in consumption, investment, or government spending
According to James Duesenberry
a. relative income is unimportant b. the MPC decreases as national income increases c. Keynes's absolute income hypothesis is correct but his investment hypothesis is not confirmed by the data d. the consumption function slopes downward e. consumption spending is rooted in status
Cost-push inflation is characterized by a(n):
A. decrease in aggregate supply and no change in aggregate demand. B. increase in aggregate demand and no change in aggregate supply. C. increase in aggregate supply and a decrease in aggregate demand. D. decrease in both aggregate supply and aggregate demand.