Which of the following does not exist when an economy is operating at full employment?
a. An unemployment rate of 5 percent or 6 percent
b. Seasonal unemployment
c. Structural unemployment
d. Cyclical unemployment
e. Frictional unemployment
d
You might also like to view...
The value of one more unit of a good or service is its marginal benefit
Indicate whether the statement is true or false
When a country allows trade and becomes an exporter of a good, which of the following is not a consequence?
a. The price paid by domestic consumers of the good increases. b. The price received by domestic producers of the good increases. c. The losses of domestic consumers of the good exceed the gains of domestic producers of the good. d. The gains of domestic producers of the good exceed the losses of domestic consumers of the good.
Suppose a country abandons a no-trade policy in favor of a free-trade policy. If, as a result, the domestic price of beans increases to equal the world price of beans, then
a. that country becomes an exporter of beans. b. that country has a comparative advantage in producing beans. c. at the world price, the quantity of beans supplied in that country exceeds the quantity of beans demanded in that country. d. All of the above are correct.
Judging from this graph, which of the following happens if supply increases and demand remains unchanged?
a. Price falls and quantity rises.
b. Price falls and quantity becomes indeterminate.
c. Price becomes indeterminate and quantity rises.
d. Price increases and quantity falls.