If 4% of employed workers lose their jobs each period while 76% of the unemployed find work, then the natural rate of unemployment is
a) 4%
b) 5%
c) about 3%
d) 20%
e) 19%
b) 5%
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The above figure illustrates a perfectly competitive firm. Curve B represents the
A) MR curve. B) ATC curve. C) MC curve. D) AVC curve. E) AFC curve.
What were the two main sources of population increases during the antebellum period?
(a) a significant increase in the number of indentured servants and slaves (b) immigration and a natural increase in population (c) government policies providing incentive to procreate and advanced pre-natal care (d) longer life expectancies and high infant mortality rates
An agency that regulates labor markets is the
A) Equal Employment Opportunity Commission. B) Environmental Protection Agency. C) Federal Trade Commission. D) Consumer Product Safety Commission.
Based on the relative size of factor payments, the most important resource in the U.S. economy is
a. capital. b. land. c. labor. d. natural resources.