The natural rate of unemployment worsens if:
a. Actually, the natural rate cannot worsen. That's why it's called "natural."
b. Capital markets become more competitive.
c. A nation's resource endowments expand.
d. Unemployment benefits drastically improve.
e. Real wages become more flexible.
.D
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In explaining the evolution of money
A) government regulation is the most important factor. B) commodity money, because it is valued more highly, tends to drive out paper money. C) new forms of money evolve to lower transaction costs. D) paper money is always backed by gold and therefore more desirable than checks.
Which central coordination task has claimed the most attention of central planners?
A. Output selection B. Production planning C. Distribution D. Rationing
Externalities occur when a transaction directly impacts all the people involved in the transaction
a. True b. False Indicate whether the statement is true or false
Deregulation of the railroad industry led to
A. Reconfigured routes and services. B. Increased operating costs. C. Decreased competition. D. Lower profits.