The natural rate of unemployment is made up of
A) seasonal and structural unemployment.
B) frictional, cyclical, and structural unemployment.
C) cyclical and structural unemployment.
D) frictional and structural unemployment.
E) frictional and cyclical unemployment.
D
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A movement along the demand curve for automobiles is caused by a change in:
a. the price of automobiles. b. the price of gasoline. c. the price of steel. d. consumers' incomes.
A firm's accounting profit is called a normal profit when its:
a. accounting profit is equal to zero. b. economic profit is equal to zero. c. opportunity cost is equal to zero. d. average cost is minimum. e. economic profit is equal to accounting profit.
If the Fed wished to eliminate an inflationary gap, which of the following would be an appropriate policy?
What will be an ideal response?
Network externalities
A) can only exist when there are economies of scale. B) prevent the dominance of a market by one firm. C) exist when the usefulness of a product increases with the number of consumers who use it. D) are created when celebrity endorsements of products lead to a surge in the demand for those products.